Flashcards
JCT D&B contract questions
Cards in this deck (11)
- 1What are the contractors obligations under JCT D&BThe contractor shall complete the design of the works, and carry out and complete the construction of the works in accordance with the contract documents.
- 2What should the contractor supply to the employer in response to the ER'sdocuments showing and describing the their proposals for the design and construction.
an analysis of the contract sum. - 3What is the CIS?Construction industry scheme
-Sets out how payments to subcontractors should be handled by contractors in terms of tax arrangements - 4What are liquidated damages?- A genuine pre-estimate of the likely loss incurred by the employer should the completion date not be met
- 5What are the two types of insurance?Liability Insurance - Financial cover for the legal liabilities that the insured party owes to others
Loss Insurance - Financial cover for losses that fall directly on the insured party - 6what is the purpose of a valuation?To value the works complete to enable interim payments based on a monthly cash-flow forecast.
- 7What is the due date?Date set in the contract particulars when you should be doing the valuation.
Contract admin has 5 days to issue payment cert and then 14 days from due date for payment - 8How would you alter the contract sum?PS's, PC sums, variations, loss and expense claimed from contractor, acceleration costs, fluctuations.
- 9what is the time for issuing the final account and certificate?6 months form PC to hand over fa document, then 3 months to agree it, these time frames can be altered in the contract.
- 10What are the fluctuation options?Stated in the contract docs
Option A - reimbursed tax, levies or any government imposes
Option B - labour and materials cost fluctuations
Option C - formulated adjustment on each valuation for inflation from the base date. - 11What is the base date?Date the tender was priced, and used for comparison for inflation.
Information
- Description
- chartership T17 Contract Practice Flashcards on JCT D&B contract questions , created by Fred Fulford on 03/06/2015.
- Created by
- Fred Fulford · Jun 2015
- Updated
- Nov 10, 2016
- Views
- 6
- Rating