News tagged Delay-Damages
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Standard Construction Contracts – Who Cares?
Much energy and time and resources are devoted to developing and maintaining standard forms of contract for the construction industry. Sometimes great energy and heat are spent arguing over whether standard contracts are worth the effort, doing little more than generating revenue for the organisations that sponsor and produce them. Those who argue that it’s not worth the effort now have useful and instructive research findings that demonstrate just why the use of standard contracts is important, and why we should care how they are produced and used. The University of Melbourne Law School, with the support of the Society of Construction Law Australia, has published the results of a research project investigating current practice in relation to standard forms of contract in the Australian construction industry. The research project relied on a web-based survey (which received 295 responses representing 379 projects) and 47 interviews with key industry personnel. The key findings include: there is broad support in principle for the use of standard forms; however, 54% of respondents believe that there is no current standard form capable of being used in Australia without substantial amendment; 68% of contracts reported upon used standard forms; of those, 84% were amended from the standard form; the primary reason identified for amendment was the ‘need to shift risk’; overall, AS4300-1995 was the most widely used form in Australia (used in 23% of projects using a standard form), followed by AS4000-1997 (18%), AS2124-1992 (17%) and AS4902-2000 (14%); the form was chosen by the principal or principal’s lawyer in more than 80% of cases; the dominant factor identified for that choice was ‘familiarity with the form of the party choosing it; the extent and types of amendments to standard forms varied by form, contracting sector and value; and overall, the highest incidence of amendment was in relation to extensions of time, delay damages, site conditions, variations, warranties, claims, security of payment, GST, workplace health and safety and limitations on liability. The full report is available here.
Resources tagged Delay-Damages
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NEC 4 Key Amendments Summary January 2021
A brief summary of 5 key amendments to NEC 4 construction contracts written by Christopher Dickson of CMS and published by Construction News 15th January 2021
Businesses tagged Delay-Damages
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