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The owner, often referred to as the 'employer' or the 'client', [1] has full authority to decide what type of contract should be used for a specific development to be constructed and to set out the legally-binding terms and conditions in a contractual agreement. [2] A construction contract is an important document as it outlines the scope of ...
The contract was billed as the world's first contract specifically aimed at the management of time in complex construction and engineering projects. [2] The authors also stated that it was the first form to follow the Society of Construction Law Delay and Disruption Protocol, [ 3 ] and that it was also the first standard form contract to cater ...
A dispute board (DB), dispute review board (DRB) or dispute adjudication board (DAB) is a forum for dispute resolution, typically comprising three independent and impartial persons selected by the contracting parties. The significant difference between Dispute Review Boards and most other techniques for alternate dispute resolution, potentially ...
Cost-plus-incentive fee (CPIF) contracts have a larger fee awarded for contracts which meet or exceed certain performance goals, for example being on schedule and any cost savings. [1] Cost-plus-award fee (CPAF) contracts pay a fee based upon the contractor's product. An aircraft development contract, for example, may pay award fees if the ...
The NASA Contract Adjustment Board considers requests by NASA contractors for equitable contractual relief. In the U.S. Department of Transportation, a "Board of Contract Appeals" [15] is responsible for hearings and decisions on appeals from decisions of departmental contracting officers; when sitting as the Contract Adjustment Board it acts ...
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 ...
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 ...
Construction bidding is the process of submitting a proposal to undertake, or manage the undertaking of a construction project. The process starts with a cost estimate from blueprints and material take offs .
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