The way that contractors usually get paid for their completed work, is determined by the size of the job and the contract agreement.
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In principle, different standard contracts follow different rules of how to deal with mathematical errors found by the Contract Administrator…
OJEU stands for the Official Journal of the European Union (previously called OJEC – the Official Journal of the European…
Before a budget is developed, a design needs to be in place. This means that the designer will have gone…
If the quality of the end result is not the driving factor and there is limited time to implement the…
The traditional method of procurement, also known as the “design-bid-build” method, is characterized by a sequential and linear process where the design of the project is completed before the construction is bid out and awarded to a contractor.
While it is not always necessary to appoint a Quantity Surveyor in a relatively small and straight-forward construction project, their role is considered essential in larger and more complex projects.
Entering collateral warranties increases the Landscape Architect’s liabilities and one would prefer not to enter into such an additional risk without thoroughly weighing the benefits against the potential risks.
If a Client requests from you to agree to a collateral warranty, you should first contact your Insurance Company and let them know of the situation.
A Contingency is an item found within a Bill of quantities (BoQ). This item refers to unforeseeable costs or risks likely to be incurred during the contract.
Bonds in construction provide security by guaranteeing that a contractor will complete a project according to the terms and conditions outlined in the contract
In construction, a bond is a financial guarantee that a contractor will complete a project according to the terms and conditions outlined in the contract.
In the majority of contracts the retention amount would always be 5%. There might be rare exceptions where particular concerns…
Retention during a valuation is a percentage (often 5%) of the amount certified as due to the contractor on an interim certificate that is retained by the client.
A Collateral Warranty refers specifically to a contract between a professional consultant, building contractor or sub-contractor and a third party.