Keystone Law

This Practice Note, written in partnership with Patrick Elliot at Keystone Law, considers the requirements of the UK General Data Protection Regulation and looks at the practical considerations for insolvency professionals, and in particular for office-holders taking insolvency appointments where they have to control or process data. It considers what they need to look out for and what measures they can put in place to avoid the risk of penalties for non compliance.

This is a precedent parent company guarantee (PCG) which can be used in the context of a construction project where a contractor requires security from its employer. This PCG gives the contractor comfort that it will be paid what is due and payable to it in accordance with the building contract by the employer’s parent company in the event that the employer fails to pay.

This Precedent agreement is a parent company guarantee (PCG) intended to be provided as security in the context of a construction project. This guarantee is drafted from a contractor-friendly perspective. The guarantee is drafted as a secondary obligation with a 'no greater liability' provision. The employer will need to claim against the contractor before pursuing the guarantor. The guarantee expires on practical completion and is not assignable.

This Precedent agreement is a parent company guarantee (PCG) intended to be provided by the contractor as security in the context of a construction project. This guarantee is drafted from an employer-friendly perspective. The agreement provides that the guarantor guarantees as a primary obligation and indemnifies the employer. It provides for payment on written demand and contains the usual savings provisions. The agreement is co-extensive with the obligations of the contractor under the building contract and is also capable of being assigned without restriction.