Law Dictionary

collateral deed of warranty

The meaning of this term differs depending on the context in which it is used:



In the general law of contract, a term or contract which runs outside the main written contractual agreement between the parties.



In construction law, collateral deed of warranty refers specifically to a contract entered into by a building contractor, a document which provides security for a fund, tenant or buyer (third party). It is an agreement under which a consultant, contractor or subcontractor warrants to a third party (essentially) that it has complied (and/or will comply) with its appointment, building contract or subcontract.

Source : LawyerIntl.com

Language : English

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