JCT teases target cost contract details

“Pain/gain” clauses to spread construction risk between clients, contractors and the supply chain will be included in the JCT’s forthcoming target cost contract. A member of the Joint Contracts Tribunal (JCT) drafting subcommittee has lifted the veil on the Target Cost Contract (TCC 2024) document… The post JCT teases target cost contract details appeared first on Construction News.

The three main themes of the JCT design and build changes

JCT has now published the long-awaited 2024 edition of the Design and Build Contract family. On reviewing the new Design and Build Contract (DB 2024), it is clear that the drafting changes follow three main themes: “Many of the 2024 changes are decidedly contractor-friendly, though… The post The three main themes of the JCT design and build changes appeared first on Construction News.

AI is no silver bullet for contract drafting

Bill Barton is a director at Barton Legal There has been no shortage of excitement about the potential applications of artificial intelligence (AI) across the legal sector. Some have even foreseen a future where AI sits as a judge, at least in the more straightforward… The post AI is no silver bullet for contract drafting appeared first on Construction News.

Bonds & Guarantees - What Contractors and Employers should focus on

An excellent article published by Fenwick Elliott in their January 2024 issue of 'Insight'. The article covers the key differences between various types of bonds and guarantees commonly used in the construction industry along with practical guidance on what to look out for in drafting and when calls are being considered or made on the bonds or guarantees.

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