This is the third of four articles on successful projects, focusing on third party arrangements.
Musings of a busy mind
In what looks like the ongoing saga of the Arrow liquidation, yesterday the High Court in Wellington effectively confirmed that demand could be made under a bond, against the owner's assessment of the likely losses arising from Arrow's failure to complete the development of a property for the Chow brothers at 89 Courtenay Place in Wellington.
Bonds, warranties and parent company guarantees are commonly used to secure performance; they do need to be tailored to the project and its risks.