Contract Practice

Question 1

What are EOT’s

Answer 1

Adjustment of the completion date and relived the contractors liability to pay liquidated damaged for the period of extension.

Question 2

Procedure to Claim an EOT

Answer 2

As soon as the delay is apparent it needs to be informed of
This needs to identify the cause of the delay and if any of the causes are relevant events, giving an indication of the likely delay.
This is to be reviewed by the Project Manager where further information can be requested.
Notify the decision in writing

Question 3

What are Relevant Events

Answer 3

These are set out in the contract and some exmaples are:
Variations
Instructions
Loss or damage from Specified Events
Terrorism

Question 4

Purpose of a Valuation

Answer 4

To provide advice on the certifier to allow them to issue their interim certificate.