JCT Contract (D&B) Flashcards
What is included in the contract particulars?
- Named sub-contractors
- Liquidated Damages
- Rectification Period
- First interim valuation date
- Listed items
- Fluctuation provisions
- Retention %
What are the four fluctuation provisions in JCT?
Option A, incl. changes in tax the contractor pays
Option B, incl. changes in the price of labor and materials
Option C, a formula led adjustment to the contract sum (using JCT Formula Rules by JCT)
No fluctuation provision
How many sections in the contract are there and what are they?
9
Section 1 - Definitions and Interpretations
Section 2 - Carrying out the Works
Section 3 - Control of the Works
Section 4 - Payment
Section 5 - Changes
Section 6 - Injury, Damage, and Insurance
Section 7 - Assignment, Performance Bonds, and Guarantees, Third Party Rights, and Collateral Warranties
Section 8 - Termination
Section 9 - Settlement of Disputes
What section deals with Injury, Damage, and Insurance?
6
What section deals with Carrying out the Works?
2
What section deals with Payment?
4
What section deals with settlement of disputes?
9
What section deals with Assignment, Performance Bonds, and Guarantees, Third Party Rights, and Collateral Warranties?
7
What section deals with Definitions and Interpretations?
1
What section deals with control of the works?
3
What section deals with changes?
5
What section deals with termination?
8
What is ‘alternative 1’ in JCT?
Stand by or withdraw
What is ‘alternative 2’ in JCT?
Amend genuine errors
What insurance options are there under JCT and where do you find these?
Contract Particulars
Option A - New building all risk insurance taken out by the contractor
Option B - New building all risk insurance taken out by the employer
Option C - Joint names insurance taken out by the employer of existing structures
