SPCB Written Question · S1W-20307 · Session 1
Further to his answer to question S1W-19154 on 14 November 2001, what the name was of the parent company who provided the guarantee; whethe…
The question
To ask the Presiding Officer, further to his answer to question S1W-19154 on 14 November 2001, what the name was of the parent company who provided the guarantee; whether the guarantee was to have been given by a particular time or date; what obligations the guarantee covered, and whether the guarantee included a provision in respect of a liability for any monetary sum, and, if so, what that sum was.
The answer
The Parent Company Guarantee was provided by Flour City International Inc and was requested due to the failure of Flour City Architectural Metals (UK) Ltd to provide a Performance Bond. No deadline was given for the provision of a Parent Company Guarantee. The Parent Company Guarantee covered any breach of Flour City Architectural Metals (UK) Ltd's obligations or duties under the contract. The guarantor would then, without delay, procure the remedying of any breach of Flour City Architectural Metals (UK) Ltd's obligations, failing which, the guarantor would pay to the employer and/or assign the amount of losses, damages, costs and expenses which may be incurred by the employer, by reason of any default on the part of Flour City Architectural Metals (UK) Ltd. No monetary sum can yet be attributed to any breach of contract by Flour City Architectural Metals (UK) Ltd.
In the Official Report
No contribution in the Official Report cites S1W-20307 by reference.