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Construction Law offers six main feature length analysis articles per issue, written by construction lawyers, barristers and academics, as well as insurance and health and safety specialists. In addition, developments in adjudication , industry standard contract forms, key decisions from the courts, alternative forms of dispute resolution , and ...
The Society of Construction Arbitrators is a learned society of arbitrators, adjudicators and mediators in the construction industry, based in London. It has as its object the development and support of commercial methods of alternative dispute resolution. Members of the Society include architects, engineers, surveyors and lawyers from around ...
In the United States, the authoritative literature on Construction accounting is AICPA Statement of Position SOP 81-1. Construction auditing is an important part of construction accounting and deals with expenses - the IRS offers a guide. IRS Construction Audit Guide . The National Association of Construction Auditors recommends this guide.
Construction law builds upon general legal principles and methodologies and incorporates the regulatory framework (including security of payment, planning, environmental and building regulations); contract methodologies and selection (including traditional and alternative forms of contracting); subcontract issues; causes of action, and liability, arising in contract, negligence and on other ...
NEC Contracts logo. The New Engineering Contract (NEC), or NEC Engineering and Construction Contract, is a formalised system created by the UK Institution of Civil Engineers that guides the drafting of documents on civil engineering, construction and maintenance projects for the purpose of obtaining tenders, awarding and administering contracts.
While costs are added to the construction in progress, related CIP account is debited with corresponding credits to accounts payable, accrued expenses, inventory, cash, and others. When the construction in progress is completed, related long-term asset account is debited and CIP account is credited. [1]
A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors .
Cost Accounting Standards (popularly known as CAS) are a set of 19 standards and rules promulgated by the United States Government for use in determining costs on negotiated procurements. CAS differs from the Federal Acquisition Regulation (FAR) in that FAR applies to substantially all contractors, whereas CAS applied primarily to the larger ones.