Variable risk with different contracts

Article Abstract:

Variations in UK construction liability contracts is widespread. The JCT 81 design and Build form and the 1988 IMech/IEE, MF1 form, provide different cover for delay and defect. Under JCT 81, an employer can recover 50,000 pounds sterling on a 20-week delay; under MF1 the sum for the same period is only 25,000 pounds sterling. Under JCT 81 defects liability is valid for 12 months and provides unlimited cover on design defective work or materials; under MF1 defects liability is still for 12 months but unlimited cover only applies if 'gross misconduct' is proved.

Insurance, Contractors

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The black art of tendering

Article Abstract:

There are often many differences between what people say in public about tendering practices and what they actually do. A lot is said about the shortage of contracts and very low margins, but it is very difficult to assess whether companies are actually giving a true picture of their situation. It is important to focus on actual net cost, then consider the margins which competitors may be adding or subtracting.

Construction

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Time is money

Article Abstract:

The problems that can face UK construction companies as a result of failing to meet PFI deadlines are considered. Claiming an extension of time is no longer an easy solution when projects run late.

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