The final account is the conclusion of the contract sum and signifies the agreed amount that the employer will pay the contractor.
4 November 2019 Read more
section 4E1
Latent defects may not become apparent until a few or many years after the completion of the project whereas patent defects on the other hand, are the one that are immediately obvious.
15 June 2019 Read more
Limitation is a time-limit of when a party can raise a claim and is provided for in the Limitation Act 1980, although parties can agree in a contract that a shorter or longer limitation period will apply.
15 June 2019 Read more
The Penultimate Certificate is produced by the Contract Administrator stating that the Contractor has achieved Practical Completion.
24 April 2019 Read more
If the Client requests from the Contract Administrator to issue Partial Completion for specific sections of the works/site in order to obtain occupancy.
20 December 2018 Read more
The Certificate of non-completion is issued by the Contract Administrator when the Contractor fails to meet the agreed Date of Practical Completion.
20 December 2018 Read more
The date of Practical Completion is the date set be the Contract Administrator and agreed by the Contractor that all works under the contract will be completed.
20 December 2018 Read more
Practical completion is the point in construction when the Contract Administrator confirms the completion of construction works of a project.
20 December 2018 Read more
Partial Practical Completion is the passing of control and responsibility of a site’s completed areas back to the Client while there are still works to be done in other areas of the site scheduled to be completed at a later time.
28 November 2018 Read more
Both the rectification and maintenance period start as soon as the project reaches Practical Completion and run for the same time approximately.
1 October 2018 Read more
Liquidated damages are damages whose amount the parties designate during the formation of a contract for the injured party to collect as compensation upon a specific breach (e.g., late performance).
1 October 2018 Read more
A snagging list is one that lists all these minor defects or omissions that the contractor still needs to make right, before Practical Completion.
13 August 2018 Read more