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“Allied Trust Securities Group” means (“ATS”)
“Construction Bond Asset Backed Security” means (“CBABS”)
“Totally Integrated Insurance Products” means (“TIIP”)
“Engineering Procurement Construction/MAIN Contractor” means (“EPCC”)
"Negotiated Contract" - not a Bid or Tender Contract means (“FIDIC/JCT”)
“FIDIC” international federation of national associations of independent consulting engineers means (“FIDIC”)
“JCT” Joint Contracts Tribunal means (“JCT”)
“Gross Maximum Price” the maximum price of the given FIDIC/JCT Contract means (“GMP”)
"Hardened Down Price" a turnkey, on time and on price FIDIC/JCT Contract means (“HDP”)
“Professional Management Companies” means (“PMC’s”)
“Quantity Surveyors” means (“QS”)
“Parent Company Guarantee” means (“PCG”)
“Agreed Final Contract Price” means (“FCP”)
“Asset-Backed Security Promissory Bond Note” means (“The Note”).
“Jardine Lloyd Thompson” means (“JLT”) - Worldwide Insurance Brokerage
“Marsh & McLennan” means (“M&M”) - Worldwide Insurance Brokerage
“Arthur J Gallagher” means (“AJG”) - Worldwide Insurance Brokerage
“Quantifiable Risk Solutions” means (“QRS”)
“Insurance Indemnity/Surety” means (“IM”)
“Bond Offering Product” means (“BOP/BO”)
“Intellectual Property Right” means (“IP”)
“Capital Market Product” means (“CMP”)

  1. ATS and ATS’s Strategic Partners appoint/agree the EPC/MAIN Contractor EPCC, for the given Project/Venture.

  2. ATS and the Strategic Partners offer the EPCC a "Negotiated Contract".

  3. ATS/The Clients and the Strategic Partners require the EPCC to firstly enter into an IP-CBABS form of "In-Principal Agreement" confirming engagement terms, or "Conditional Pre-Agreement" on the Project/Venture with a GMP, and then later in the Process an HDP, with regard a FIDIC, JCT or International Agreed Contract.

  4. When ATS/The Clients and the Strategic Partners receive the GMP, (this process can take up to 2-4 months, depending on the size of the Project), in-conjunction with the joint appointed ATS PMC’s, QS, which GMP is monitored by both parties. Then both parties are then ready to "harden down" this GMP price to an agreeable FIDIC, JCT or International Agreed Contract price.

  5. The EPCC will then issue its PCG or agreed Security to ATS/The Project Financiers, and simultaneously the FIDIC, JCT, International Agreed Contract will be signed at the agreed FIDIC, JCT, International FCP, with an agreed percentage contingency.

  6. ATS will, as required, then provide and issue The Note. This Note will be supported among other “Tools” by the IP-CBABS and the TIIP, tailor made for ATS by JLT and/or M&M, AJG - Worldwide Insurance Brokerages, as appointed by ATS, and thereby providing QRS for the Project/Venture, and where necessary and required, ATS will arrange an IM or BOP, and where and if necessary Underwriting.

  7. Within the FCP, IP-CBABS Methodology and the TIIP, there will be EPCC milestones for the draw-down and payment of funds to the EPCC, as per the FCP. These are supplied by the EPCC and agreed with ATS/The Clients and the Strategic Partners. On the first milestone payment, ATS will arrange to pay the EPCC up to 5% of the FCP, up front. The EPCC thereafter is always funded in advance with ATS funds. A great advantage to the EPCC.

  8. The EPCC Payments, etc, are paid on QS Certificates, and Audited.

  9. ATS will appoint a PMC Chairman who will be the Project Director. He/She in turn will appoint the other necessary PMC’s in conjunction with ATS. Thereafter, the Associated PMC’s receive their fees throughout the Contract term.

  10. At the end of the Contract Term (practical completion), the Project/Venture is handed over to ATS or the Client/Partner.

It is to be noted that CBABS is an IP of ATS, and owned by ATS and forms the 1st stage Security, and the TIIP the 2nd stage Security for the Project/Venture, and thereby provides the all important QRS. This then Guarantees that the Project / Venture will be completed “On Time and On Budget”.

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