Decennial liability
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Decennial liability is insurance that is taken out by contractors that covers costs associated with the potential collapse of the building after completion. The names derives from the fact that it covers the 10 year period after completion of the project.[1] It is required in many countries such as France,[2] Egypt,[2] and Qatar.[3] It is a form of strict liability arising from the French Civil Code which does not require any proof of fault.[4] The cost of the insurance can significantly increase construction costs.
[edit] References
- ^ http://www.irmi.com/online/insurance-glossary/terms/d/decennial-liability.aspx
- ^ a b http://www.dr-hoek.de/EN/beitrag.asp?t=Decennal-liability-under-FIDIC
- ^ http://www.clydeco.com/knowledge/articles/decennial-liability-under-the-qatari-civil-code.cfm
- ^ http://www.beazley.com/idoc.ashx?docid=31c9cce1-3dcb-465d-9760-06b905d31ea4&version=-1
