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Department of Infrastructure, Local Government and PlanningUncompleted Works guarantee and undertaking Form S2CS3 version 01 effective 16 October 2017 Dated:(#insert date)By:The Financial Institution
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Uncompleted works guarantee is a form of security that ensures completion of construction projects or other projects in case the original contractor is unable to finish the work.
The party responsible for the construction project, usually the contractor or developer, is required to file uncompleted works guarantee.
Uncompleted works guarantee form must be completed with relevant project information, financial details, and any other required documentation. It is typically filed with the relevant government agency or regulatory body.
The purpose of uncompleted works guarantee is to protect the interests of project stakeholders, including clients, subcontractors, and suppliers, in case of contractor default or project abandonment.
The information that must be reported on uncompleted works guarantee includes project details, financial commitments, completion timelines, and any other relevant information needed to assess the risk and coverage of the guarantee.
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