Construction Bulletin | June 2018
The Construction Bulletin is your monthly snapshot of activity and information you need to know in the construction, property and infrastructure spaces.
In this bulletin, we:
- consider the reluctance by banks to approve loans for prefabricated buildings;
- summarise the recent case of Richina Pacific Ltd v Samson Corporation Ltd on performance bonds;
- discuss a recent decision challenging the ‘owners pay’ principle for unit title repairs;
- review the latest edition of the Conditions of Contract for Consultancy Services; and
- recap the month's construction and infrastructure market activity.
Can banks ‘bank on' the prefab industry?
One of the industry’s most challenging hurdles is availability of lending to buyers of pre-fabricated houses.
The bond stacks up
Court confirms principal can call on a performance bond if the contractor has not fully discharged its contractual obligations.
Who pays? Benefit trumps ownership
Under the Unit Titles Act, the owner of property typically pays for repairs. A recent decision turns this principle on its head.
New edition of ‘CCCS' released
The Conditions of Contract for Consultancy Services, has been updated and is available for use.
A selection of construction news from the market.
If you would like to discuss any of the topics mentioned in this bulletin please get in touch.
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