Tuesday, September 29 2020 0:41:30

CPD by Others
Code : 2017136
Event Name : Briefing Session on the Standard Form of On-demand Bond
CPD Code : Formal Events
Speaker : Mr. Edmund Wan, Mr. James Wilkinson and Mr. Rocky Cho
Event Date : 15/08/2017
Event Time : 7:00 pm - 8:30 pm
CPD Hour(s) : 1.5
Venue : Surveyors Learning Centre, Room 1207, 12/F, Wing On Centre, 111 Connaught Road Central, Sheung Wan, Hong Kong
Division : HKIS
Organizer : HKIS and the Construction Industry Council
Closing Date : Please refer to "Remarks"
Fee : Free of charge for HKIS members
Priority : For HKIS member only on a first-come-first-served basis
Language : English
Details :

The Construction Industry Council (CIC) strives to foster a fair and equitable environment for the construction industry when conducting their businesses. The use of performance bonds in construction projects had raised concerns over its abuse and the general stifling of the industry’s competitiveness. A Task Force was formed under the CIC to examine the issues surrounding performance bonds and to make recommendations on best practices when exercising the rights and obligations under such bonds.


The “Standard Form of On-demand Performance Bond with Conditions” was produced by the CIC as a fair and reasonable option to pursue on-demand bonds in construction contracts. At the same time, the CIC encourages diligent project management, supervision as well as equitable risk sharing as viable means to ensure contractor performance and satisfactory project delivery.



This session will introduce to the audience the issues and considerations on the use of performance bonds, the features of the Standard Form and the enforcement of performance bonds.

Remark :