There are several types of construction contracts. However, often a standard form of contract is best suited for most construction contracts. Describe why this type of contract is the best in most situations?

Q: By virtue of Section 14 of the Contract Act 1950, highlight the situation where a contract could be…

A:

Q: What is contract? Discuss different types of contracts in detail with suitable examples

A: A Contracts is a legal framework or a set of rules which are carried out to establish a legal…

Q: What are the various types of contracts? Discuss various stages in contract placement.

A: The task of doing any work or item of work under some prescribed set or terms and conditions by…

Q: Briefly explain why the contract is the most important part of construction projects

A: Brief Concept- Contract- It is an agreement between the two or more parties and it is enforceable by…

Q: According to Contract Act (1950), there are seven (7) essential elements to the creation of a valid…

A: Following is required answer :

Q: What are the five principles of contract administration?

A: Six priciples of contract management:

Q: In which project delivery method do the Owner, Designer(s), and Contractor(s) enter into a single…

A: To find :- In which project delivery method do the Owner, Designer(s), and Contractor(s) enter into…

Q: Define the term fixed-price contracts?

A: A fixed-price contract is also known as a lump-sum contract or a firm-price contract. It establishes…

Q: what are the legal issues of using BrIM as contract documents ?

A: BIM LEGAL ISSUES BIM: Recognising your obligations and limitations 1. This article considers two…

Q: . Describe the three types of authorities exercised in a construction contract?

A: Three types of authorities exercised in a construction contract are : 1.Actual Authority : It is…

Q: What is the cost Reimbursable contract?

A: A constructional contract is defined as an agreement between two parties in which general and…

Q: Why use standard forms of contract?

A: Standard contracting forms have a whole host of benefits:

Q: D1. Construction Contracts and Bidding: i) Describe in details the different contract and bidding…

A: Introduction- The process of submitting a proposed tender to conduct or oversee the execution of a…

Q: Where a contract document lists an order of precedence,what effect does that provision have on…

A: An order of precedence is listed to resolve any disputes that arise from the conflicts between the…

Q: tendering process

A: Tendering process is really a requires long strategic planning to any firm as well as for…

Q: What is the “contractor’s risk,” and how does it relate to the type of construction contract to be…

A: Contractor's Risk : when the term is used in association with a construction project, is the…

Q: When do most disputes in construction contracts occur?

A: When a construction dispute occurs, the contracting parties may wonder which is the best course of…

Q: Describe the general conditions of the construction contract?

A: General requirements cover any part of the project, meaning that it may be complicated to break down…

Q: What are the safety requirements in construction contract?

A: A construction contract is basically a legal agreement between two parties, which is recorded in the…

Q: What are the performance bonds?

A: Performance bond:

Q: What are the payment provisions under the construction act?

A: The construction act allows each worker under a construction contract to accept payment in stage…

Q: in which construction contract is given an accurate price fo

A: Introduction- A construction agreement is a legally enforceable contract between two parties based…

Q: . What are the payment provisions under JCT?

A: JCT Standard Building Contract 2011 payment terms are relatively complex. The system relies on the…

Q: Before projects can proceed, a contract must be drawn up between the customer and contractor.…

A: Contract is a mutually binding legal agreement between two parties . In case of civil engineering ,…

Q: Choice 1 Extreme ease of use Choice 2 Designer preference Choice 3 Project owners requiring it…

A: BIM = Building Information Model  it is a tool which is used to distinguish the 3D modelling from…

Q: Why is there a need for a statement of the prospective bidder of all its ongoing government and…

A: Solution: There is the need for the statement as:

Q: Valid contracts require an offer, an acceptance, and a consideration.Identify these elements in the…

A: A valid contractor is selected on the basis of qualification, type of work he has done, upto what…

Q: What is the fixed-price incentive contract?

A: Fixed price incentive contract is a contract in which a fixed percentage on the total target cost or…

Q: a type of construction contract and make a brief discussion of its advantages and disadvantages to…

A: A contract protects both the builder and the owner by ensuring that expectations are clear from the…

Q: Differ between Assignment and sub contracting?

A: Subcontracting and assignment are two terms which are widely used in an construction project.  These…

Q: Describe the term International Construction Contract?

A: International Construction contract is defined as the contract prepared for the international…

Q: What is a contract? What are the different types of civil engineering contract? State the…

A: The contract is a law-abiding agreement signed between the client and owner. During the sign of the…

Q: Discuss the role of the Contract Administrator as the Employer's Agent and as an independent…

A: Hi! Thank you for the question. As per the honor code, we’ll answer the first question since the…

Q: What types of relationships are intended to be established under a Partnering agreement?

A: When a mutually developed formal ideology of communication and accountability planned to increase…

Q: Discover warranty and warranty period in a contract, explain it briefly and include example

A: A warranty is a written guarantee that a seller issues to a buyer regarding particular claims. The…

Q: In a construction contract, which is the best party to bear the various risks?

A: In a construction contract there are various risks, some are given below: Logistical risks Socio…

Q: What procedural steps should be taken by the contractor in a contract?

A: A contractor is a self-employed person who can carry out the works for the construction company. The…

Q: What are the four guidelines for allocation of risk in construction contracts?

A: Risk is defined as an unpredictable occurrence or collection of circumstances that will impact the…

Q: What are some of the examples of fixed-price incentive contracts?

A: Fixed-price incentive contracts are fixed-price contracts but with the incentive given for finish…

Q: Discuss with reference to Clauses in the Conditions of Contract (FIDIC for Building and Engineering…

A: Solution:- The three main clauses or situations are as follows:- i) Time of performance clause: This…

Q: Differ between the unit price contract and contract price?

A: The contract which is made upon the basis of estimation of the unit price of materials used in the…

Q: C. There has always been the need to protect Client from Contractors who cannot to perform…

A: A tendering is a presentation submitted by a potential customer in reaction to a company's offer…

Q: Write some of the common conditions that generally give rise to the need for a contract change…

A: Contract Change Order : A contract change order is work that is applied to or removed from the…

Q: What are Guaranteed Maximum Price Contracts?

A:

Q: Explain the following terms in detail.  i) Contract ii) Types of Contracts

A:

Types of Contracts

A verbal or written agreement between a person and a firm, for undertaking construction, material supply, maintenance, and repair work which is enforceable by law is termed as a contract. The person who undertakes the contract for execution of the work is termed as a contractor. The contracts are classified into different types depending on the nature of the contract.