Certificate of Vesting
Certificate of Vesting
For use when a specialist sub contractor is to be paid for goods or materials held by him off-site. The Certificate provides the specialist with a reasonable document to put forward, and should provide a useful counter to the various non standard - and often potentially onerous - versions which may often be foisted on the specialist.
The CCS Certificate of Vesting (to be signed by the specialist) confirms that goods or materials described on an attached schedule are held at the specialist's works, are substantially complete, are intended for delivery to the site, do not have any ownership problems, are insured, and are marked and set aside.
This clear undertaking should satisfy the reasonable requirements of employers, main contractors, QSs or other interested parties. The Certificate also confirms that the goods or materials will pass into the legal ownership of the designated recipient as soon as the specialist receives payment, and the various undertakings from the specialist are given in consideration of and conditional on the receipt of payment by the specialist. The CCS Certificate of Vesting provides a useful document for all specialist companies which seek to obtain payment for off-site goods or materials.
Revised Edition 2003 PRICE: £11-00 (pack of 5) + VAT
