Land News

Bespoke Liability for Contaminated Land

Lawson Fairbank, 11th April, 2005

WSP Environmental are heralding a new scheme - bespoke liability for contaminated land. The international environmental consultancy will guarantee fixed-price remediation.

Stephen Sykes, Global Head of WSP's Environmental Liability Solutions said, "At present, clients ask two basic questions before deciding on a remediation project. First, what is the cost or how can I be certain of the costs? And secondly, what about liability, what am I liable for?"

"They often are dissuaded from going ahead with projects as remediation costs are uncertain and can grow, and additional risks can arise as the project develops."

"However, our new scheme removes those uncertainties and gives them one, up-front fixed price."

The scheme has already been called upon by a blue chip acquisition of a large contaminated site. WSP offered a guaranteed fixed price remediation contract as well as a contractual solution to manage the client's environmental liabilities, including an environmental warranty that the remediation would be carried out to a requisite standard and an environmental indemnity.

WSP’s Remediation Plus will help facilitate transactions which previously would have failed due to lack of certainty.

The volume of contaminated land in the UK that has long put investors off may now be a thing of the past.

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