Construction Law Made Easy

Glossary Term

Builder's Side Deed

Description

An agreement generally entered into by the Contractor, the Principal and the Financier. It can restrict the rights of the Contractor in relation to a number of aspects of the Contract including Variations, Extensions of Time and notice requirements. It also manages default and termination of the Contract by establishing Privity of Contract between the Contractor and the Financier and enables the Financier to ensure that the Contractor cannot walk from the project without dealing with the Financier.