Get Workmanship Warranty Template

An example of a warranty is a seller committing to replace or repair a product within a specified time if it doesn't meet the expected performance. This guarantee concerns the fitness, quality, and the performance of the sold product.

A collateral warranty creates a contractual link between the third party and the contractor or professional consultant. A collateral warranty is a contract that sits alongside the underlying contract, such as a building contract or consultant appointment, and grants rights to a third party which can be sued upon.

Performance Risk If the subcontractor fails to perform or abandons the work, the contractor may have relief against the surety, which will be required to step into the shoes of the subcontractor and complete the work (or pay to have someone else do so).

The JCT Contractor Collateral Warranties are intended to be given by the main contractor engaged on a construction project to third parties, which will often include funders, purchasers and tenants.

The Subcontractor warrants that it will provide the Subcontract Work free of any defects, faults or omissions and that it will, at its own cost, promptly rectify any defects, faults or omissions in the Subcontract Work.

What is the purpose of a Warranty? A warranty is required to ensure that the contractor will correct structural defects and failures. It should be noted that a one-year period after the completion of the project, called the defects liability period, is observed until final acceptance by the Procuring Entity.

To ensure you're protected from start to finish, always follow these protocols before you hire. Get Proof of Bonding, Licenses, and Insurance. ... Don't Base Your Decision Solely on Price. ... Ask for References. ... Avoid Paying Too Much Upfront. ... Secure a Written Contract. ... Be Wary of Pressure and Scare Tactics.

Subcontractors report to the contractor, who is ultimately responsible to the client for their work. Therefore, the subcontractor is liable to the contractor, but not directly to the client.