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In 2007 JCT published the Constructing Excellence Contract (JCT/CE), a contract designed to support collaborative working, as advocated by the Latham Report, and can trace its roots back to the "collaborative contract" published in 2003 by BE, a joint venture between the Reading Construction Forum and the Design and Build Foundation (and now ...
This form of contract is intended for building works (including alterations) where the contract is to be administered by an architect and where payment to the builder is to be on the basis of the actual cost of the works plus a fee. This fee may be either a lump sum or a percentage of the cost of the works.
The exact provisions will depend on the specific form of contract being is adopted. For example, in the Joint Contracts Tribunal (JCT) Design and Build Contract, the base date determines the allocation of risk in relation to changes in statutory regulations, changes to VAT exemptions and changes to definitions of dayworks. Under the JCT's ...
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 ...
The NEC contracts now form a suite of contracts, with NEC being the brand name for the "family" of contracts. [16] When it was first launched in 1993, it was simply the "New Engineering Contract". This specific contract has been renamed the "Engineering and Construction Contract" which is the main contract used for any construction based project.
EPCM is a services-only contract, under which the contractor performs engineering, procurement and construction management services. In an EPCM arrangement, the client selects a contractor who provides management services for the whole project on behalf of the client.
In traditional construction contracts (known as design–bid–build contracts) the principal contractor is only engaged when a detailed design is complete. An invitation to tender is published and a number of contractors will price the construction of the design, from which a single winner will be chosen to complete the works. Contractors are ...
Time and materials (T&M) is a standard phrase in a contract for construction, product development, or any other piece of work in which the employer agrees to pay the contractor based upon the time spent by the contractor's employees and the subcontractors' employees to perform the work, and for materials used in the construction, plus the contractor's markup on the materials used, no matter ...