Contract Practice - Level 1 Flashcards
What key function does a contract perform on a construction project?
What is a contract?
Define express terms?
Define implied terms?
What six conditions need to be met for a contract to be in place?
What are the main suites of construction contracts?
What is tort?
What are the influences which will affect contract selection?
Can you name three standard forms of contracts that can be used on a construction project?
What do you understand about the following forms of contract; FIDIC, JCT, etc …..
What does JCT stand for?
Name the key components of the JCT contract suite.
When was the JCT contract suite last updated?
Tell me about some of the key changes that were made.
How was the JCT contract suite modernised through the last update?
How does JCT facilitate electronic working?
How does the JCT work alongside the Construction Playbook?
How has the JCT contract suite incorporated diversity and inclusion?
What is the JCT Fluctuations Hub used for?
Explain the JCT Target Cost Contract to me.
What form of NEC contract might the Target Cost Contract be a good alternative for?
What are the main parts of the JCT contracts?
What are the JCT schedules?
How are relevant events and relevant matters dealt with under NEC?
How does NEC deal with loss and expense?
What types of insurance are required under JCT?
How is fitness for purpose dealt with under JCT DB / CDP?
What is the contractor’s design liability under JCT contracts (for CDP elements)?
What are the differences in procurement between JCT Standard Form and JCT with Contractor’s Design?
When would you use a JCT IC or MW contract?
Can benefits be assigned under JCT contracts?
When and why would you use each?
Explain the role of main sub and package contracts from the standard suites you are aware of.
In a contract you have used explain the following; roles and responsibilities of the parties
What client specific considerations have you taken into account when selecting a contract type?
What insurance provisions are in the JCT and NEC standard forms of contract?
What is a contractor’s all risk insurance or contract works insurance?
What do you understand by insurance in joint names?
What is a collateral warranty?
What is your understanding of what a letter of intent is?
What is a comfort letter/consent to spend/recognition of contract?
When might you use advance payments?
What is the final account?
Who prepares the final account in a JCT form of contract?
Who prepares the final account in the NEC4 form of contract?
What is the purpose of a final account?
On the issue of the final account what are the relevant time periods in a JCT form of contract?
When must the final certificate be issued?
Tell me two of the information or statements that must be contained in the final certificate.
What are the usual constituents of a final account?
What is released to the contractor in the final certificate?
What are the usual constituents of a final account?
What are the four elements of a valid contract?
What third party rights might be included in a contract?
How does dispute resolution work in a contract you have experience of?
What is common law?
What do you understand by consideration in contract?
What do you understand by invitation to treat in contract?
How is the JCT form of contract structured?
How is the NEC form of contract typically structured?
What is the difference between a contract executed under seal and underhand?
When selecting a form of contract what factors do you consider?
What alternative forms of contract are there available and what would influence your recommendation of a form of contract?
Design and Build contracts - what are the 3 main forms of this contract?
Name 3 factors you think make this form of contract valid for your work?
Apart from JCT D&B what other forms of D&B contracts are there?
Have you ever considered a NEC D&B contract?
Within a JCT SBC when and why would you use a Schedule 2 quotation?
What are the timescales in a Schedule 2 quotation?
If the contractor on a D&B contract fails to issue the final account within the due period what action should you advise your client to take?
If you had to explain the differences to your client between sectional completion and partial possession can you provide an example of the differences under a JCT D&B contract?
How do sectional completion partial completion and beneficial use differ?
Define each of the following: sectional completion partial completion and beneficial use differ?
If you client wanted to place furniture in the completed parts of a project which would you recommend sectional completion or partial possession?
What are liquidated damages?
What is your understanding of retention and bonds?
What is your understanding of early possession?
What contractual weight does a practical completion certificate carry in a JCT contract?
Tell me about some of the insurances a subcontractor would need if they were responsible for a part of the design work.
What do you understand by a parent company guarantee?
When might it be used?
What is your understanding of sectional completion?
What is your understanding of performance bond?
When might it be used?
What is you understanding of limitation of liability?
Talk me through how you’ve ensured insurances from subcontractors were at the correct level.
What do you understand by relevant event in a JCT form of contract?
What do you understand by compensation event in a NEC form of contract?
In the NEC form of contract talk me through five things that can lead to a compensation event.
In the NEC form of contract when can the completion date be adjusted?
In the NEC form of contract what is a defined cost?
In the NEC form of contract what is a disallowable cost?
When were changes to NEC4 last made?
What changes were made?
How are NEC contracts categorised by different alternative pricing options?
What are these pricing options?
How is BIM integrated in a contract you are familiar with?
Explain Secondary Option X7.
What issue was raised by Triple Point Technology v PTT Public Co?
How was Secondary Option Y(UK)2 updated to reflect the judgement in Rochford Construction v Kilhan Construction?
How were Secondary Option X22 and Secondary Option Y(UK) 1 amended?
When are NEC compensation events not time barred?
In a NEC contract how would you detail if the contract is to be D&B?
What does the works information is included in a NEC contract?
What are the different types of FIDIC contract and how do they reflect different risk profiles?
What is your understanding of the difference between delay and disruption?
When does financial management of a project typically take place?
Explain what happens during the post contract phase.
How do you implement and manage cost control procedures and reporting within the scope of a contract?
What contract legislation are you aware of?
Explain how contracts may deal with contractor designed works.
Explain your understanding of contracts and sub-contracting.
What payments provisions and change procedures are you aware of?
What factors affect the choice of security in a contract?
What insurances are you aware of?
What is novation and assignment?
What is a collateral warranty?
What are the three ways that benefits can be transferred under JCT contracts?
Who might want a collateral warranty?
How are they requested?
What are the common clauses / terms in collateral warranties?
What is the difference between a bond and collateral warranty?
With any D&B contract there is a high probability that collateral warranties will apply where would you expect to see them and between which parties?
Are there any alternatives to collateral warranties?
Explain your understanding of retention.
What is the purpose of retention?
What items do not have retention taken on them?
Who receives the interest accruing on retention money?
When is the retention released to the contractor?
What if the contract sum increases?
Explain your understanding of liquidated and delay damages.
Explain your understanding of claims for extensions of time acceleration and loss and expense.
What is early possession?
Explain your understanding of phasing.
How can a contract be terminated?
Explain the impact of insolvency on contracts.
How do you deal with final accounts?
What is a pre-construction services agreement (PCSA)?
When are pre-construction services usually used?
What should be taken into account in the wording of a PCSA?
What might the pitfalls be?
When would you recommend the use of a PCSA?
How does a PCSA differ to a LOI?
Explain your understanding of defects and rectification.
How has Covid-19 affected a contract you have worked on?
Explain the differences between cost reimbursement and lump sum contracts.
Explain a key principle of the new RICS Guidance Note Subcontracting (1st Edition).
What is a subcontractor defined as within this?
What does the Guidance Note not cover?
If an architect develops a design to a certain stage and the appointed D&B contractor then wants to use the design and develop further what do they need to do?
Explain in this scenario xxx
What is novation?
How does novation affect the employer’s rights?
What are the advantages of novation?
Are there any disadvantages of novation?
Do you have novation on traditional contracts?
What measures can be taken to effectively control costs during the construction phase of a project?
How can you control costs to keep a job under budget?
How do NEC and JCT manage change control?
Why is cash flow important?
How does a cash flow help a company remain solvent?
What is risk allocation?
What do you understand by risk management?
What is a risk management strategy?
What are the benefits of risk management?
What are the stages of risk management?
Why is risk management needed in construction?
What is the risk response?
How is risk quantified?
What are risk management techniques?
How do you report or monitor risks?
What are preliminaries?
What are preambles?
What would you include in a work schedule?
What are the three main standard forms of construction contract?
What is the role of contract administrator in each of these?
How do cost complexity and time impact selection of JCT contract?
How does quality impact the contract selection?
What are the key differences between the JCT forms of contract?
Why are valuing change and valuations crucial for a QS?
What other contract procedures must the QS be aware of?
What are the rules for valuing change?
