Avoiding Performance Security Pitfalls with the FIDIC Silver Book

In this article for Construction News, Louise Woods, Ciara Ros, and Lauren-Emma Parrott look at the FIDIC Silver standard form contract, and the key issues to consider in respect of bonds and guarantees when entering into, or enforcing under, this form of contract. In particular, they discuss what financial security is available to both contractor and owner in the context of defects that may arise during the life of a project.