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The Joint Contracts Tribunal, also known as the JCT, produces standard forms of contract for construction, guidance notes and other standard documentation for use in the construction industry in the United Kingdom. From its establishment in 1931, JCT has expanded the number of contributing organisations.
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 ...
The provisions of this document are similar to AS4000 but are for minor works. Variations. Variations are valued by the superintendent using rates or prices in the contract. Where the bill of quantities or schedule of rates is not a contract document the rates shall still apply.
NEC documents use some of their own terminology in a specific manner, for example "compensation event" is a term used to encompass variations, losses and expenses, and extensions of time. The term implies that in some situations the contractor will be "compensated" with additional payment, e.g. for additional expenses incurred as a result of ...
A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, [a] a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it ...
The master service agreement serves as a master contract governing the terms over potentially multiple SOWs. Sometimes it refers to scope of work. For instance, if a project is done on contract, the scope statement included as part of it can be used as the SOW since it also outlines the work of the project in clear and concise terms. [3]
the Yellow Book covers circumstances of design–build, where mechanical and electrical (M&E), building and engineering works are designed by the Contractor. [10] [11] the Silver Book covers projects which will follow the engineering, procurement and construction (EPC) and turnkey approach. [10] [12] the Green Book created a short form of ...
A take-or-pay contract, or a take-or-pay clause within a contract, is a payment obligation agreed between a business customer and its supplier. With this kind of contract, the customer either takes the product from the supplier or pays the supplier a penalty. For any product the company takes, it agrees to pay the supplier a certain price, say ...