We know the sellers of risk want to effectively and permanently divest their assets. Step 2 of our comprehensive VCE® process provides owners with unmatched protection and piece-of-mind.
How Does It Work?
A fundamental piece of collateralization is the Escrow Account.
- An appropriate amount of funding is set aside and available to cover the clean-up phase of the project.
- Includes specific milestones and a project timeline to measure progress.
- Verified by underwriters as part of the Indemnity Insurance policy.
Payment and Performance Bonds
For major contractors, Payment and Performance Bonds are put in place to assure the project will be completed within budget.
- Firm, fixed-price contracts are established with industry leading firms.
- Bonds name the owner as additionally insured.
- Verified by underwriters as part of the Excess Indemnity Insurance policy.
Pollution Legal Liability and Remediation Insurance and additional type of insurance product that covers:
- Unknown and pre-existing conditions
- Regulatory re-openers after closure
- Personal injury and property damage claims
- Natural resource damages
CLP can offer clients the first and only industry coverage that protects the owner for known environmental issues. This comprehensive coverage insures the owner directly and provides an unmatched level of protection in the event of any default on the project.
With a Valuation in hand and a robust Collateralization plan backstopping us, we can now focus on the final step — Execution, where we eliminate the underlying liability to help ensure it can never return.