Jurisdiction(s):
United Kingdom

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Key definition

Warrants definition

What does Warrants mean? Warrants (also called equity or share warrants) are contractual rights that allow the holder to subscribe for new shares in a company at an agreed (fixed or formula-based) exercise price within a stated period. They operate like a call option but are issued by the company, so exercise results in the allotment of new shares rather than a transfer of existing shares. The term is a market expression rather than a defined company law concept in the UK or Ireland, though warrants are generally treated as transferable securities under financial services regulation. Key features include the exercise price, expiry/maturity, conditions...

Contractor collateral warranty/third‑party rights memorandum for building contracts with optional step‑in rights, professional indemnity insurance, copyright licence, assignment and limitation provisions (English law)

Published by a LexisNexis Construction expert

Precedents

1 Contractor warranties and undertakings

1.1 The Contractor Warrants and undertakes that:
1. 1.1.1 the Contractor has complied with, and will continue faithfully to comply with, all terms and obligations binding upon the Contractor under the Building Contract;
2. 1.1.2 regarding the design of the Works under the Building Contract, the Contractor has applied and shall continue to apply the reasonable skill, care and Diligence to be expected of a properly qualified, capable and competent architect, or other suitable professional designer, experienced in projects of comparable scope, type, size, nature and complexity to the Works.
1.2 The Contractor’s responsibilities under this Memorandum shall be no greater and of no longer Duration than those owed to the Employer under the Building Contract, and the Contractor shall be entitled in any action or proceedings to rely upon any limitation in the Building Contract and to assert equivalent rights in defence of liability as it would have against the Employer had the Beneficiary been named as joint employer under the Building Contract, save in respect of any set-off or counterclaim...

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Web page updated on 22/05/2026

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