The service, called MasonsOnlaw, is the result of a new partnership between BuildOnline and Masons, which in addition to being a leader in information and technology law is also the market-leading legal adviser to the construction and engineering industry. The two firms will work together to produce up-to-the-minute summaries and in-depth fortnightly reports on key legal issues in construction. The reports will be available at www.BuildOnline.com.
Build Online is the leading business-to-business e-commerce site for Europe's £520 billion construction industry, with over £11.6 million in venture capital funding. BuildOnline is pioneering 'e-construction' - where building materials and services, which account for 65% of total construction costs, will be bought on its internet marketplace of suppliers and buyers.
In addition, the site's project collaboration tool links together all the parties involved in a construction project, enabling them to manage seamlessly every stage of the construction process from design and tender, to building and maintenance online.
BuildOnline estimates that e-construction can deliver 23% savings in European construction and reduce construction project completion times by 15%, amounting to annual industry savings of over £119 billion.
Mark Oliver, UK Managing Director of BuildOnline said:
“Legal issues affecting UK construction are complex and challenging. At times the industry can feel like a contractual and jurisdictional minefield. Our service with Masons, who are clearly the experts in this area, is designed to steer people safely through this.”
John Bishop, Senior Partner at Masons added:
“Masons is very pleased to be part of this exciting venture, which gives us the opportunity to provide up to date news and analysis of legal developments to the industry in a readily digestible form. We all know that the law in this area is developing. By working with BuildOnline we are showing our commitment to being at the forefront of e-commerce developments in the industry, which, I believe given time, investment and training, will have a fundamental effect in modernising and driving the industry forward to a more prosperous future.”