Transcript Standard Form of Contracts

Standard Form of Contracts
What’s to be discussed ?
What is it
Advantages
Various types
What is it ?
A standard form 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.
Standard form of contract
Contracts
feedback
Advantages
1.
2.
3.
4.
Time saving
Flexible
Minimizes errors
Not biased
True or false
Examples
NECJoint
New
engineering
Contract
The
Contracts
Tribunal
International
federation
of(JCT)
consulting engineers
•
•
•
•
•
•
Option
A –– Priced
• DB
designcontract
and buildwith activity schedule.
Option
B – –Priced
contract
• CD
contract
designwith bill of quantities.
Option
C –– Target
contract
with activity schedule.
• CE
constructing
excellence
Option
D ––Target
contract
withofbill
of quantities.
• IFC
intermediate
form
building
Option E- Cost
reimbursable contract
contract
Option
F- management
contract
• MC
– management
contracting
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