Parent Company Guarantees

The Local Authority may require direct guarantees from any relevant parent companies, associated companies, Funders or other entities to ensure that the Service Provider is financially robust and properly secured. Additionally, the Local Authority would expect the Service Provider to agree to enforce the guarantees where required.  Bidders should note that the failure of a guarantor would be a termination event.

If the funding providers require guarantees from any relevant parent companies, associated companies or other entities then details of these requirements and confirmation from the body concerned that they are prepared and able to meet these requirements should be provided with the Solution.

If guarantees are proposed, or deemed by the Local Authority to be necessary, the Local Authority will expect to agree the format and terms.