Following representations from CCF WA, Western Power is reviewing its application of bank guarantees in its preferred vendor panels.
Standing Offer Guarantees, which are provided by the contractor prior to commencement of a panel contract, are often beneficial to both parties by reducing administrative costs. However, some members have approached CCF WA with concerns that the Standing Offer Guarantees requested by Western Power were excessive and disproportionate to the value of works the members would expect to receive.
In response to these concerns, Western Power has committed to reviewing the application of bank guarantees and will take steps to ensure the value of them broadly reflects the work that is intended to be provided to a contractor.
Members are encouraged to contact Western Power directly to discuss options.