Whether you are an entrepreneur, architect, construction worker, engineer or materials supplier, it’s in your best interest to familiarise yourself with legal hypothecs and security bonds, which are considered to be an instrument of protection by many actors in the construction sector looking to protect their receivables and receive payment in case of litigation.
In both instances, contracts guarantee workers, suppliers and other stakeholders the payment of their fees and salaries. However, like many legal guidelines, legal hypothecs and security bonds have many clauses, singularities and subtleties. It goes without saying that the conditions in which they apply are also strictly regulated. Basically, rudimentary knowledge is necessary.
Groupecho Canada offers a workshop on credit securities from the construction sector. This four hour session will be given by an experienced lawyer specialised in commercial litigation and an excellent ability to popularise legal jargon.
In construction, there is also the security bond, a type of contract that can replace the legal hypothec. But this is only one of many forms of security. Once again, it is important to know the basics. In general, a labour and material payment bond is a guarantee that will allow workers and suppliers to be paid in the case of litigation.
Our training entitled “Asset Protection In the Construction Industry” aims to improve your knowledge about legal hypothecs and credit securities in the construction sector through clear presentations and concrete examples. Please consult the workshop description in the training section of our website to obtain more information and to register.
The next training sessions will take place in:
• Québec, April 26, 2012
• Laval, May 1, 2012
For more information, please contact us at 1-800-363-2809, extension 708 or 358.
Please note that this training is offered in French only.