Contract sum Definition

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GLOSSARY

Published by a ��Ӱ�� Construction expert

What does Contract sum mean?

The price the employer agrees, pursuant to the contract'>building contract, to pay for the carrying out and completion of the works by the contractor.

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Drafting a building contract/schedule of amendments—checklist

Drafting a building contract/schedule of amendments—checklist Once the procurement route and form of building contract has been selected (see Practice Note: Choosing the right procurement method—construction projects) the employer should consider the following matters and incorporate the appropriate drafting in the building contract particulars and schedule of amendments. This Checklist assumes that the parties are using a standard form of building contract, such as a JCT form, and that the employer is proposing the first draft including the completed contract particulars and a schedule of amendments, which amends the standard terms. This list is not exhaustive, however, and there may be other project specific matters/risks that need to be taken into account: Contractual matters • Carry out due diligence on the contractor The employer needs to carry out due diligence on the contractor at the outset to determine whether its financial position is acceptable. Confirm the contractor’s company number and name at Companies House. • Obtain consultants’ details Confirm the full details of the consultants engaged by the employer; some...

Completing the JCT 2016 Minor Works Building Contract Particulars—checklist

Completing the JCT 2016 Minor Works Building Contract Particulars—checklist The Agreement, Recitals, Articles and Contract Particulars at the start of a JCT contract set out the project specific details for the particular works to be carried out. It is very important that these are fully completed and that the details are correct to avoid ambiguity and disputes regarding what is required. This Checklist provides practical guidance as to how to complete the details including links to relevant Practice Notes which provide detailed information on the areas covered. It is aimed at those who are relatively new to dealing with JCT contracts. An employer will often arrange for the architect/contract administrator or other consultant to complete the particulars at the start of the contract and will then ask its lawyer to check the contract before the parties execute it. Alternatively, a lawyer may be asked to fill in all of the details but they will need input from the client or its consultants as to the details to be inserted. This...

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Construction Glossary—C

Construction Glossary—C A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Call-off The practice, under a framework agreement, of instructing specific works to be carried out. Depending on the structure and terms of the framework agreement, call-off may require a contract to be entered into or may just require a call off notice to be given by the instructing party. See Practice Note: Framework agreements in construction—call-off procedures. CAR insurance See Contractor's all risk (CAR) insurance below. Category A fit out Interior fit out to a basic level on behalf of landlord/developers. It is difficult to define what this includes as it can vary a lot. There are, however, some guidelines, for example those published by the British Council for Offices. Category B fit out Interior fit out to a specified design on behalf of occupiers/owners. CDM co-ordinator Under the Construction (Design and Management) Regulations 2007, SI 2007/320, which dealt...

Construction contract documents

Construction contract documents In most cases, a construction contract will incorporate a number of documents that all work together to set out the obligations and liabilities of the parties and to define the works and when, where and how they are to be carried out. These are often referred to as the 'contract documents'. In addition to the conditions of contract, the other documents that will be incorporated into the contract will depend upon the procurement route that has been adopted. They will commonly include (using JCT language for simplicity): • employer’s requirements • contractor’s proposals • a contract sum analysis or (depending on the form of contract) bill of quantities • specifications • drawings • the programme • BIM protocol Other ancillary documents can be used to clarify the parties' responsibilities, such as the tender, minutes of a pre-contract meeting or derogations/tender clarification—if so, these may be included as separate contract documents or incorporated within one of the documents listed above. Conditions of contract The...

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Performance bond clause—construction project

Performance bond

Re-measurement clause

Remeasurement 1 [Gross Internal Area means the gross internal area of the Premises expressed in square [feet OR metres] and measured in accordance with the Royal Institution of Chartered Surveyors’ Property Measurement (2nd Edition). OR Net Internal Area means the net internal area of the Premises expressed in square [feet OR metres] and measured in accordance with the Royal Institution of Chartered Surveyors’ Property Measurement (2nd Edition).] 2 When the [frame OR shell OR [other relevant point of construction]] of each of the relevant parts of the Works i

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Construction contracts by WhatsApp and invoices as payment applications (Jaevee v Fincham)

Construction analysis: In this Part 8 claim, the Technology and Construction C ourt (TCC) held that, while informal, the parties had entered a concluded contract by an exchange of WhatsApp messages. The essential terms had been agreed and other terms were not essential or would be implied. The court further held that three out of four invoices issued by the defendant were valid applications for payment, even where two of the invoices did not contain a mathematical breakdown of the sum due. In their context, the invoices were sufficiently clear and intended to be payment applications. Written by James Frampton, barrister at Keating Chambers, and Liam Hendry, senior associate at Archor LLP.

Court requires issuer to pay out on an on demand bond despite questions over the nature of the contractor’s default (Power Projects Sanayi v Star Assurance)

Construction analysis: The Commercial Court (Comm) applied a strict interpretation of the terms of an on-demand bond, which in particular prohibited the issuer from resisting payment pending further investigation or enquiry into the circumstances of the claim. This was despite the fact that the contractor on whose behalf the issuer had issued the bond had brought separate proceedings alleging that the employer/beneficiary owed them money for completing works under the contract.

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