CJ Jouhal
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An Entrepreneur that leverages technology to grow and enhance a business. A Technologist that understands business and entrpreneurship and makes technology facilitate the business model.

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Cic Novation Agreement

The production of the suite, which contains two entirely new documents, was controlled by the CIC Liability Panel. Panel Chair Professor Sarah Lupton said: “It was exciting to work with a multidisciplinary team of specialist advisors, lawyers and insurers from the liability body. From the outset, the Novation Agreement is a completely new form and we hope that its introduction will help to standardise agreements across the sector and avoid the need for several ad hoc documents. The panel has also been in contact with RIBA to ensure compatibility with its new professional service contracts and is grateful for its support to this project. Professor Sarah Lupton, Chair of the ICC Responsibility Committee responsible for drafting the documents, said: “The initio novation agreement is a whole new form, and we hope that its introduction will help to standardise agreements across the sector and avoid the need for multiple ad hoc documents.” Novation means, in contract and business law, the action of replacing a performance obligation with another obligation or adding an obligation of performance or replacing a party to an agreement with a new party. This practice note focuses on standard form novation agreements published by the City of London Law Society (CLLS) and the CIC. With regard to the CIC novation agreement, this practice note takes into account the “Switch” edition published in 2004 – in 2018, the CIC published an “ab initio” novation agreement (revised in 2019) and we will publish new content in due course. Novation agreements are intended to be used in case of novices of an advisor mandated by a client or a developer to a new customer who may be a design and construction contractor, another developer or another organization. A Novation Agreement – Switch and the associated warranty guarantee will also be published in the near future. CIC has announced the publication of a new set of agreements for novation of standard forms and guarantee guarantees: Novation is now a very common feature in construction projects.

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