What do JCT contracts look for?

What do JCT contracts look for?

Reviewing Contracts – 10 Key Clauses to Look Out For

1. Conditions Precedent. It is extremely important to look out for conditions precedent when reviewing a contract.
2. Design Responsibility.
3. Limitations on Liability.
4. Acceleration and Omission.
5. Payment Provisions.
6. Set-Off.
7. Indemnities.
8. Final and Conclusive Provisions.

How does a JCT contract work?

JCT contracts facilitate the process of constructing buildings. In simple terms, contracts set out the responsibilities of all parties within the construction process and their obligations, so it is clear as to what work needs to be done, who is doing it, when are they doing it by, and for how much.

What type of contract is Jct?

The range of JCT construction contracts comprises: Standard Building Contract. Intermediate Building Contract. Minor Works Building Contract.

Who draws up a JCT contract?

JCT contracts are usually made between an ’employer’ and a ‘contractor’ to facilitate the process of delivering a building project. They set out all of the relevant terms and conditions, including the obligations of the parties, the costs involved and specification of the project.

Do I need a JCT contract?

Not using a JCT contract can expose your renovation project to risk. A JCT provides a framework for your building project to be delivered on time and on budget. What happens if you don’t have a JCT? Projects embarked on without a contract are often delivered very late and at much higher costs than initially envisaged.

What does JCT stand for?

The Joint Contracts Tribunal
The Joint Contracts Tribunal, also known as the JCT, produces standard forms of contract for construction, guidance notes and other standard documentation for use in the construction industry in the United Kingdom.

What is a fixed price JCT contract?

Lump sum (or stipulated sum) contracts are sometimes referred to as ‘fixed price’ or ‘firm price’ contracts, although strictly this is not correct. If the actual cost of the works exceeds the agreed price, then the contractor must bear the additional expense. …

How many types of JCT contracts are there?

Design and build 18 For design and build procurement there are three main types of contract: Package deal or turnkey contract – where the client settles on a complete package, usually to some standard specification from a commercial firm.

When should a JCT Minor Works contract be used?

The JCT Minor Works Building Contract is designed for smaller, basic construction projects where the work is of a simple nature. Minor Works Building Contracts are suitable for projects procured via the traditional or conventional method.

What is the difference between JCT and NEC contracts?

JCT provides separate contracts for employer-design or contractor-design. NEC allows for employer- design, contractor-design or part and part, simply by expressing in the works information what design the contractor is obliged to carry out.

What are the forms of a JCT contract?

The JCT contracts cater for projects ranging from domestic extensions to the largest skyscrapers. The forms most used are the Minor Works Contract and the Design and . What is a JCT Minor Works Contract? The JCT Minor Works Contract is drafted to suit simpler projects.

When did the JCT start building construction contracts?

The JCT suite of contracts are standard forms of building contracts that parties can use to document their construction projects. The JCT was formed in 1931.

What do you need to know about Jct and NEC?

There has been for many years several attempts to create the perfect contract. JCT and NEC are both examples of attempts to create a family of construction contracts to cater to specific needs. A JCT Contract is a wide range of construction contracts produced by The Joint Contracts Tribunal.

What kind of contract is a joint contract Tribunal?

A JCT is a type of contract. More specifically, it is a standard form of building contract published by the Joint Contracts Tribunal. The JCT publishes many different contracts, so simply referring to a JCT may cause confusion.