What’s The Benefit of Having a Party Wall Award (Agreement)?
Having a Party Wall Award, also known as a Party Wall Agreement, provides several benefits compared to just having a Schedule of Condition report. Here are some advantages of having a Party Wall Award:
Legal Protection: A Party Wall Award is a legally binding document that outlines the rights and obligations of both the building owner and the adjoining owner. It ensures that both parties comply with the requirements of the Party Wall etc. Act and helps prevent disputes or conflicts in the future.
Clear Rights and Responsibilities: The Party Wall Award clearly defines the rights and responsibilities of each party involved in the construction project. It specifies the extent of the notifiable works, access rights, working hours, and other important details. This clarity helps minimize misunderstandings and potential conflicts.
Dispute Resolution Mechanism: The Party Wall Award provides a framework for resolving disputes that may arise during or after the construction process. It outlines the procedure for resolving disagreements, appoints an impartial surveyor or surveyors, and specifies how disputes will be handled, including the process for appeals if necessary.
Protection of Adjoining Owner’s Property: The Party Wall Award ensures that the adjoining owner’s property is adequately protected during the construction process. It may include provisions for necessary precautionary measures, such as additional supports, monitoring of potential damages, and the rectification of any damages caused by the works.
Financial Compensation: In case damages occur to the adjoining owner’s property as a direct result of the notifiable works, the Party Wall Award can specify the provision of financial compensation or the payment of necessary repairs by the building owner.
Preservation of Evidence: While a Schedule of Condition report provides a record of the existing condition of the adjoining owner’s property before the works, a Party Wall Award includes the Schedule of Condition report as part of the legal agreement. This preserves the evidence and ensures its admissibility in case disputes arise in the future.
In summary, a Party Wall Award offers legal protection, clearly defines rights and responsibilities, provides a mechanism for dispute resolution, protects the adjoining owner’s property, allows for financial compensation, and preserves evidence. These benefits help safeguard the interests of both parties involved in the construction project and minimise the risk of conflicts or disputes.