Contract Administration Flashcards
What are the JCT Payment Terms
Contractor issues valuation, employer shall issue a payment notice to the contractor within 5 days. Final date for payment 14 days after valuation.
What is execiton as aDeed
When a contract is executed as a deed, it’s signed, sealed, and delivered, offering a higher level of contractual commitment. This method is often chosen for its longer limitation period for bringing claims.
What are third party rights?
These are rights conferred on individuals or entities who are not directly a party to the contract. They usually come into play for sub-contractors or other stakeholders, providing them with specific rights or benefits.
What are Collateral Warrenties
These are separate agreements related to the primary contract, usually providing assurance or benefits to third parties like funders, landlords, or future owners.
What are bonds and guarentees?
These financial instruments offer added security, ensuring the contractor’s performance and financial viability. They are usually required by the employer as a safeguard against contractor default.
What are Notices?
These are formal communications related to the contract, like progress updates or claims. They must be delivered in the manner specified in the contract to be legally valid.
What is governing Law?
This outlines the jurisdiction and the legal rules that will apply in case of a dispute. Knowing the governing law is essential for understanding your rights and obligations under the contract.
Who is the Employer?
The entity, usually the client, for whom the construction project is undertaken. The Employer has the ultimate responsibility for payment and overall decision-making.
Who is the Contractor?
The party responsible for carrying out the construction works as per the contract. They liaise closely with the Architect and the Contract Administrator to deliver the project to specifications.
Who is the Architect?
Usually acts as the project’s designer and may also take on the role of Contract Administrator. They are responsible for the design and often oversee construction to ensure it meets the design intent.
Who is the Contract Administator?
Appointed to manage the contract on behalf of the Employer. They are responsible for issuing instructions, certifying payments, and generally ensuring the contract terms are adhered to.
Who is the Quantity Surveyor?
An independent professional responsible for estimating and monitoring construction costs. They usually prepare the Bill of Quantities and evaluate any variations or changes to the initial plans.
Who is the Sub Contractor?
A third-party firm or individual contracted by the main Contractor to carry out specific parts of the construction work. They are responsible to the Contractor and not directly to the Employer.
What is a Named Sub-Contractor?
Sub-contractors specified by name within the contract. The Contractor is obliged to use these sub-contractors unless otherwise agreed upon.
What is a Specialist Consultant?
Experts hired for very specific tasks that require specialised knowledge, often in fields like structural engineering, mechanical systems, or environmental sustainability.
What is a Principal Designer?
The individual or organisation responsible for planning, managing, and coordinating health and safety during the project’s design phase.
What is a Principal Contractor?
A contractor appointed by the Employer to coordinate the construction phase, especially regarding health and safety issues.
What is a Funder or Investor?
An external party who provides the necessary financial resources for the project. Their interests are usually protected through various clauses in the contract.
