Contracts provide a legally-enforceable framework for guiding any and every type of business relationship, from employment agreements to orders for parts and supplies. While these agreements are key to guiding business relationships and ventures across all sectors, getting contracts right is especially important within construction, where the ability to complete a build on time, on budget and to code hinges upon all vendor arrangements going as expected. From the builder’s perspective, contracts are also important for preventing scope creep and to reducing the risk of cost overruns they may unexpectedly have to absorb.
Construction management contracts encompass the work and/or materials required for a building project. Typically, they will address:
1)Project/deliverable specifications
2)Labor and material requirements
3)Timelines for completion/delivery
4)Compensation formula and amounts
While construction management agreements will typically include the above, they can be structured differently, with numerous types of contracts that are designed to best meet the needs of all parties under all sorts of different scenarios. Familiarizing yourself with the types of contracts that are typically in play within building projects is an important first step to optimizing all contract-related processes within construction management.
There are several types of construction contracts. Price-based contracts include lump sum contracts, where the contractor is paid a fixed price for the entire project, and unit price contracts, where payment is made based on rates for individual work units. Cost-based contracts include cost plus contracts, where the contractor is reimbursed for costs plus a fee or percentage, and guaranteed maximum price contracts, where the owner's liability is capped but the contractor can retain savings if the project costs less than estimated. The appropriate contract type depends on factors like project scope definition and risk allocation between owner and contractor.
The document discusses various types of construction contracts, including lump sum, item rate, labour, material, percentage rate, cost plus, and turnkey contracts. It describes key elements that should be included in a construction contract agreement, such as a description of the work, payment procedures, completion dates, signatures of parties, and references to other contract documents like drawings and specifications. Disputes are typically resolved through arbitration according to the legal requirements in the contract documents.
A lump sum contract is a legal agreement where a contractor agrees to complete an entire project for a fixed, pre-agreed price. The key aspects are that the focus is on completing the whole project, not individual tasks, and the client knows the total cost upfront. The main advantages are minimal risk and costs for the client, and predictable cash flows and overhead costs. The main disadvantages are it is not suitable for complicated or changing projects, and the contractor faces high risk if costs are underestimated. It differs from a cost plus contract, where the client pays all costs plus fees, and from a unit price contract, which covers multiple lump sum contracts for a multi-stage project.
Tendering Bidding & Award of Contract Final DraftMuneesh Methwani
The document discusses various aspects of tendering and bidding processes for construction projects. It covers:
- Types of tenders including lumpsum, item rate, percentage rate, cost plus, package deal, standing offer, labour contract, and supply of materials tenders.
- Tendering steps such as finalizing procurement strategy, preparing tender documents, inviting tenders, bid evaluation, negotiation and award of contract.
- Key tender documents including notice inviting tenders, instructions to bidders, contract conditions, specifications, drawings and formats.
- Modes of inviting tenders including negotiated, limited competition and open competition.
- Bidding methods like single-stage single-envelope, single-
This document defines different types of construction contracts and summarizes their key aspects. It discusses lump sum, unit price, cost plus, and other contract types. For each type it provides an overview of how payment is determined, as well as advantages and disadvantages from the perspective of owners and contractors. The goal of different contract types is to appropriately allocate risk between owners and contractors for a given project scope, schedule and budget.
The document discusses various types of construction contracts including: lump sum contracts where the owner pays a specified amount upon completion; cost plus contracts where the owner pays the contractor's documented costs plus an additional fee; and integrated contracts where a single contractor is responsible for design and construction like design-build or turnkey contracts. Management contracts involve appointing a contractor to coordinate other subcontractors. Measurable and item rate contracts establish payment based on physical measurements or rates for units of work.
Presentation is trying to define the intent , content, methods and scope of arbitration and tendering and its implications for the architectural practice.
Contracts and Tenders
When two or more persons have common intention communicated to each other to create same obligation between them there is said to be an agreement. An agreement which is enforceable by law is a Contract.
A Tenders is called upon for executing certain specified work, or supplying specified materials; subjected to certain terms and conditions like rates, time limit, etc. It is an offer in written form: Legally speaking, it is an offer to receive an offer for the work, within the specified financial limits.
Check for more presentations at - www.archistudent.net
There are several types of construction contracts. Price-based contracts include lump sum contracts, where the contractor is paid a fixed price for the entire project, and unit price contracts, where payment is made based on rates for individual work units. Cost-based contracts include cost plus contracts, where the contractor is reimbursed for costs plus a fee or percentage, and guaranteed maximum price contracts, where the owner's liability is capped but the contractor can retain savings if the project costs less than estimated. The appropriate contract type depends on factors like project scope definition and risk allocation between owner and contractor.
The document discusses various types of construction contracts, including lump sum, item rate, labour, material, percentage rate, cost plus, and turnkey contracts. It describes key elements that should be included in a construction contract agreement, such as a description of the work, payment procedures, completion dates, signatures of parties, and references to other contract documents like drawings and specifications. Disputes are typically resolved through arbitration according to the legal requirements in the contract documents.
A lump sum contract is a legal agreement where a contractor agrees to complete an entire project for a fixed, pre-agreed price. The key aspects are that the focus is on completing the whole project, not individual tasks, and the client knows the total cost upfront. The main advantages are minimal risk and costs for the client, and predictable cash flows and overhead costs. The main disadvantages are it is not suitable for complicated or changing projects, and the contractor faces high risk if costs are underestimated. It differs from a cost plus contract, where the client pays all costs plus fees, and from a unit price contract, which covers multiple lump sum contracts for a multi-stage project.
Tendering Bidding & Award of Contract Final DraftMuneesh Methwani
The document discusses various aspects of tendering and bidding processes for construction projects. It covers:
- Types of tenders including lumpsum, item rate, percentage rate, cost plus, package deal, standing offer, labour contract, and supply of materials tenders.
- Tendering steps such as finalizing procurement strategy, preparing tender documents, inviting tenders, bid evaluation, negotiation and award of contract.
- Key tender documents including notice inviting tenders, instructions to bidders, contract conditions, specifications, drawings and formats.
- Modes of inviting tenders including negotiated, limited competition and open competition.
- Bidding methods like single-stage single-envelope, single-
This document defines different types of construction contracts and summarizes their key aspects. It discusses lump sum, unit price, cost plus, and other contract types. For each type it provides an overview of how payment is determined, as well as advantages and disadvantages from the perspective of owners and contractors. The goal of different contract types is to appropriately allocate risk between owners and contractors for a given project scope, schedule and budget.
The document discusses various types of construction contracts including: lump sum contracts where the owner pays a specified amount upon completion; cost plus contracts where the owner pays the contractor's documented costs plus an additional fee; and integrated contracts where a single contractor is responsible for design and construction like design-build or turnkey contracts. Management contracts involve appointing a contractor to coordinate other subcontractors. Measurable and item rate contracts establish payment based on physical measurements or rates for units of work.
Presentation is trying to define the intent , content, methods and scope of arbitration and tendering and its implications for the architectural practice.
Contracts and Tenders
When two or more persons have common intention communicated to each other to create same obligation between them there is said to be an agreement. An agreement which is enforceable by law is a Contract.
A Tenders is called upon for executing certain specified work, or supplying specified materials; subjected to certain terms and conditions like rates, time limit, etc. It is an offer in written form: Legally speaking, it is an offer to receive an offer for the work, within the specified financial limits.
Check for more presentations at - www.archistudent.net
The document discusses various types of construction contracts. It describes lump sum contracts, item rate contracts, labour contracts, and cost reimbursement contracts. It provides details on how each contract type works, including payment structures, risk allocation, and suitable applications for different contract types. Key factors like flexibility, incentives, and risk allocation are considered when choosing the appropriate construction contract.
Earnest money is a monetary deposit paid by bidders to show their sincerity and good faith in a project. It aims to prevent bidders from withdrawing their bids before the validity period ends. Standard earnest money amounts are 2% of the estimated project cost for works costing up to Rs. 10 crores, and 1% of estimated cost plus Rs. 20 lakhs for higher value projects. Earnest money is refunded once the contract is awarded, or forfeited if the bidder withdraws during the validity period. The document discusses earnest money definitions, forms, amounts, refund processes, and treatments under different scenarios.
CONTRACTS, CONTAINING INFORMATION REGARDING NEGOTIATED CONTRACTS WITH ITS TYPES AND INCLUDING PICTURES RELATED WITH TOPICS, COST PLUS PERCENTAGE RATE CONTRACT, MERITS OF THE CONTRACT, DEMERITS OF CONTRACTS, DESCRIPTION ABOUT TTYPES OF NEGOTIATED CONTRACTS, TOPIC IS LINKED WITH CONSTRUCTION AND PLANNING MANAGAGMENT
The document is the tender and contract conditions for the construction of a building in Liwan, Dubai. It includes instructions to tenderers on submitting the tender, requirements for site visits, and clarification of contract documents. The tender must include supporting documents such as proof of a site visit and a tender bond. The employer reserves the right to accept or reject any part of the tender. The tenderer is responsible for understanding all project requirements and conditions. No changes can be made to the tender documents except for filling in blanks.
This document discusses project management principles and techniques. It covers topics like organizing and managing projects, planning projects, review procedures, reporting, and project termination. It describes various project management functions including defining project scope, deciding how activities will be executed, developing suitable project organizations, preparing implementation plans, and monitoring and controlling progress. It also discusses techniques for project planning like network analysis, bar charts, work breakdown structures, critical path method, and time/resource analysis.
The document discusses various aspects of construction project management. It covers topics like defining a project and project management, the roles and responsibilities of a project manager, the need for project management, and the project management triangle involving time, cost, and scope constraints. It also describes key phases of project management like planning, execution, control, and closure. Important tools for planning and scheduling projects are discussed, including bar charts, critical path method (CPM), and program evaluation and review technique (PERT).
This presentation includes:
1. What is tender and types of tender?
2. What is contract and types of contracts?
3. Process of inviting tender and awarding contract.
4. Important definitions:- EMD, SD, Bill of quantities, Quotation, etc.
1. A tender is an invitation from an owner to contractors to bid on a construction project within a specified timeframe and cost. Tenders can be open, sealed, limited, or single and are classified based on bidding requirements and contractor selection.
2. The tender process involves preparing tender documents, publishing a notice inviting bids, submitting and evaluating bids, accepting a tender, and awarding a contract. Key information provided includes project details, completion timeline, earnest money deposits, and bid evaluation criteria.
3. For a contract to be valid, it requires a definite offer from the owner and acceptance from the contractor to complete the specified work, as defined in the contract documents signed by both parties.
Construction Project Management is an important subject to learn in Civil Engineering.
Significance • As construction involves various activities starting from the design and planning to project completion and quality check, there is a exorbitant need for Management of construction. • Construction Industry plays a crucial role in the economy and development of a nation.
4. Objectives To complete the project in specified time and with allocated budget. To Plan and schedule the work and distribute between various departments. Deployment of personnel in Different tasks. To achieve High quality workmanship. Creating an organisation that works as a team. Using the limited available resources and producing maximum output. Providing safe and satisfactory working conditions for all personnel and workers.
5. Functions: Planning & Scheduling Organizing Staffing Directing Controlling & Co-ordinating
6. Stages of construction Briefing Designing Tendering Construction Commissioning
7. 1) Briefing Stage • This stage consists of framework required for the construction work to take a shape from the ideology of client and feasibility of Project which involves architects, engineers and project manager.
Objectives Developing Alternatives Feasible Solution ? Evaluation of Alternatives Report & Recommendation Technical and non technical Investigations
8. 2) Designing or planning Stage Prepare construction schedule Prepare final cost estimate Prepare Working Drawings and specificati ons Prepare scheme and detailed designs Soil investigations, Topographic investigation, material supply and market surveys etc Carry out Technical Investigations Final adoption of the most suitable summary Finalize Project Summary
This document provides an overview of construction contracting methods and contract types. It discusses the traditional Design-Bid-Build approach, as well as Design-Build, Turnkey, and Construction Management delivery methods. The major contract types covered are Lump Sum, Unit Price, Cost Plus, and variations like Cost Plus Fixed Fee and Cost Plus with a Guaranteed Maximum Price. For each, the document outlines the key characteristics, advantages, and disadvantages. The course appears to cover construction documents, contracting, bidding processes, and contract conditions over multiple lectures.
Estimating and Tendering methods for Construction WorkDaniel Ross
The document discusses different project procurement methods:
1. The traditional method involves the client hiring separate consultants like designers, quantity surveyors, and structural engineers to design the project before appointing a contractor.
2. Design-build arrangements allow the contractor to take responsibility for both design and construction. This provides single-point responsibility and prices that better reflect final costs.
3. Management contracting appoints a contractor to contribute construction expertise during design and later manage subcontractors on site to finish on time and budget. This allows construction to start before full design and improves coordination.
Types of Contract in Construction ManagementShahin MB
This document describes several types of construction contracts: lump-sum, cost plus fixed fee, cost plus bid fee, guaranteed maximum, negotiated, unit-price, design-build, and turn-key. Lump-sum contracts establish a fixed total price upfront, while cost plus contracts reimburse the contractor's costs plus a fixed or percentage-based fee. Guaranteed maximum contracts set a ceiling on costs. Negotiated, unit-price, design-build, and turn-key contracts vary in responsibilities and payment structures.
Construction claims, disputes and project closuresrinivas2036
This document discusses construction claims, disputes, and project closure. It begins by explaining that during project execution, issues often arise between parties that cannot be resolved, resulting in claims from contractors for time extensions or cost reimbursements. These claims can be settled amicably or become disputes if the owner does not agree. Common sources of claims include defects in contracts, site conditions differing from descriptions, scope changes, and payment delays. The document provides guidance on claim management, notification, substantiation, and resolution procedures. It also discusses mechanisms for dispute avoidance and resolution such as negotiation, mediation, arbitration, and their advantages over legal proceedings.
FIDIC is an international federation of consulting engineers established in 1913. It publishes standard form construction contracts known by the color of their covers, such as the Red Book. The document discusses the history and evolution of FIDIC contracts, describing various contract forms like the Red Book, Yellow Book, and Silver Book. It also discusses the roles of consulting engineers and the Consulting Engineers Association of India, the Indian affiliate of FIDIC.
1) The document discusses various aspects of a construction contract such as tender documents, tender process, acceptance of tenders, contract documents, conditions of contract, and termination of contract.
2) Key elements of tender documents are the notice inviting tenders, tender forms, schedules, specifications, drawings, conditions of contract, and other required information. The tender process involves opening and scrutinizing tenders, preparing a comparative statement, and accepting the tender.
3) The contract documents formalize the agreement between the owner and contractor and include details of the work, estimated cost, security deposit, completion period, specifications, drawings, conditions of contract and signatures of both parties. The contract lays out terms for execution,
The document discusses different types of construction contract forms including traditional, design-build, management, and construction management contracts. It provides details on lump sum, measurement, and cost reimbursement contracts under the traditional method. Factors that influence the choice of contract form are also summarized such as project complexity, client experience, certainty of costs, allocation of risk, and nature of the project. The key differences between various contract types such as lump sum vs measurement contracts and management vs construction management contracts are highlighted.
The document discusses various aspects of construction project contracts and tendering processes. It describes earnest money deposits (EMD) and security deposits contractors must provide, as well as retention amounts deducted from payments. It outlines different methods for selecting contractors, including public tender, prequalification, post-qualification, limited tender, and nomination. Key clauses like liquidated damages, defect liability periods, and arbitration are also summarized.
This document outlines the tender process for the construction of a 4-story commercial building. It includes 9 sections covering instructions, conditions, forms, specifications and drawings. Requirements include experience with similar projects of at least 1.2 crore BDT, an annual turnover of 1 crore BDT, and liquid assets of 80 lacs BDT. The tender submission deadline is November 12th, 2015. The opening will be on November 17th at the Executive Engineer's office. The performance security required is 10% of the contract price. The intended completion date for the project is November 5th, 2017.
The document discusses various types of construction contracts and tendering processes. It defines a tender as an invitation from an owner to contractors to execute work at a specified cost and time. There are different types of tenders including open, sealed, limited, and single tenders. Key aspects of the tendering process include tender forms, documents, notices, evaluation criteria, acceptance procedures, contract documents, deposits, and measurements. Different types of construction contracts are also summarized such as lump-sum, item rate, percentage rate, cost plus, and turn-key contracts.
This document discusses types of construction projects and project management in the context of construction. It outlines four main types of construction projects: residential, institutional/commercial, specialized industrial, and infrastructure/heavy construction. It then provides details on the construction project life cycle and key aspects of project management for construction, including work breakdown structures, Gantt charts, and the role of the project manager.
This document discusses various types of construction contracts. It describes direct employment, where the owner hires an organization to be responsible for construction. It also discusses fixed-price contracts like lump sums and unit prices, where the contractor agrees to a fixed total price or unit rates. Cost-plus contracts shift risks to the owner by paying the contractor's actual costs plus a percentage fee, without incentives for the contractor to control costs. Other contract types like target estimates and guaranteed maximum costs aim to balance risks between the owner and contractor.
The document discusses different types of construction contracts. It defines a contract and explains key components like offer, acceptance, consideration. It then describes various types of construction contracts including unit price contracts, lump sum contracts, labour contracts, and project management contracts. For each type, it provides details on how payment is determined and highlights their advantages and disadvantages. Project management contracts allow clients to focus on their core work while the project manager oversees construction management. While clients pay extra fees, project management can help complete projects on time and within budget.
The document discusses various types of construction contracts. It describes lump sum contracts, item rate contracts, labour contracts, and cost reimbursement contracts. It provides details on how each contract type works, including payment structures, risk allocation, and suitable applications for different contract types. Key factors like flexibility, incentives, and risk allocation are considered when choosing the appropriate construction contract.
Earnest money is a monetary deposit paid by bidders to show their sincerity and good faith in a project. It aims to prevent bidders from withdrawing their bids before the validity period ends. Standard earnest money amounts are 2% of the estimated project cost for works costing up to Rs. 10 crores, and 1% of estimated cost plus Rs. 20 lakhs for higher value projects. Earnest money is refunded once the contract is awarded, or forfeited if the bidder withdraws during the validity period. The document discusses earnest money definitions, forms, amounts, refund processes, and treatments under different scenarios.
CONTRACTS, CONTAINING INFORMATION REGARDING NEGOTIATED CONTRACTS WITH ITS TYPES AND INCLUDING PICTURES RELATED WITH TOPICS, COST PLUS PERCENTAGE RATE CONTRACT, MERITS OF THE CONTRACT, DEMERITS OF CONTRACTS, DESCRIPTION ABOUT TTYPES OF NEGOTIATED CONTRACTS, TOPIC IS LINKED WITH CONSTRUCTION AND PLANNING MANAGAGMENT
The document is the tender and contract conditions for the construction of a building in Liwan, Dubai. It includes instructions to tenderers on submitting the tender, requirements for site visits, and clarification of contract documents. The tender must include supporting documents such as proof of a site visit and a tender bond. The employer reserves the right to accept or reject any part of the tender. The tenderer is responsible for understanding all project requirements and conditions. No changes can be made to the tender documents except for filling in blanks.
This document discusses project management principles and techniques. It covers topics like organizing and managing projects, planning projects, review procedures, reporting, and project termination. It describes various project management functions including defining project scope, deciding how activities will be executed, developing suitable project organizations, preparing implementation plans, and monitoring and controlling progress. It also discusses techniques for project planning like network analysis, bar charts, work breakdown structures, critical path method, and time/resource analysis.
The document discusses various aspects of construction project management. It covers topics like defining a project and project management, the roles and responsibilities of a project manager, the need for project management, and the project management triangle involving time, cost, and scope constraints. It also describes key phases of project management like planning, execution, control, and closure. Important tools for planning and scheduling projects are discussed, including bar charts, critical path method (CPM), and program evaluation and review technique (PERT).
This presentation includes:
1. What is tender and types of tender?
2. What is contract and types of contracts?
3. Process of inviting tender and awarding contract.
4. Important definitions:- EMD, SD, Bill of quantities, Quotation, etc.
1. A tender is an invitation from an owner to contractors to bid on a construction project within a specified timeframe and cost. Tenders can be open, sealed, limited, or single and are classified based on bidding requirements and contractor selection.
2. The tender process involves preparing tender documents, publishing a notice inviting bids, submitting and evaluating bids, accepting a tender, and awarding a contract. Key information provided includes project details, completion timeline, earnest money deposits, and bid evaluation criteria.
3. For a contract to be valid, it requires a definite offer from the owner and acceptance from the contractor to complete the specified work, as defined in the contract documents signed by both parties.
Construction Project Management is an important subject to learn in Civil Engineering.
Significance • As construction involves various activities starting from the design and planning to project completion and quality check, there is a exorbitant need for Management of construction. • Construction Industry plays a crucial role in the economy and development of a nation.
4. Objectives To complete the project in specified time and with allocated budget. To Plan and schedule the work and distribute between various departments. Deployment of personnel in Different tasks. To achieve High quality workmanship. Creating an organisation that works as a team. Using the limited available resources and producing maximum output. Providing safe and satisfactory working conditions for all personnel and workers.
5. Functions: Planning & Scheduling Organizing Staffing Directing Controlling & Co-ordinating
6. Stages of construction Briefing Designing Tendering Construction Commissioning
7. 1) Briefing Stage • This stage consists of framework required for the construction work to take a shape from the ideology of client and feasibility of Project which involves architects, engineers and project manager.
Objectives Developing Alternatives Feasible Solution ? Evaluation of Alternatives Report & Recommendation Technical and non technical Investigations
8. 2) Designing or planning Stage Prepare construction schedule Prepare final cost estimate Prepare Working Drawings and specificati ons Prepare scheme and detailed designs Soil investigations, Topographic investigation, material supply and market surveys etc Carry out Technical Investigations Final adoption of the most suitable summary Finalize Project Summary
This document provides an overview of construction contracting methods and contract types. It discusses the traditional Design-Bid-Build approach, as well as Design-Build, Turnkey, and Construction Management delivery methods. The major contract types covered are Lump Sum, Unit Price, Cost Plus, and variations like Cost Plus Fixed Fee and Cost Plus with a Guaranteed Maximum Price. For each, the document outlines the key characteristics, advantages, and disadvantages. The course appears to cover construction documents, contracting, bidding processes, and contract conditions over multiple lectures.
Estimating and Tendering methods for Construction WorkDaniel Ross
The document discusses different project procurement methods:
1. The traditional method involves the client hiring separate consultants like designers, quantity surveyors, and structural engineers to design the project before appointing a contractor.
2. Design-build arrangements allow the contractor to take responsibility for both design and construction. This provides single-point responsibility and prices that better reflect final costs.
3. Management contracting appoints a contractor to contribute construction expertise during design and later manage subcontractors on site to finish on time and budget. This allows construction to start before full design and improves coordination.
Types of Contract in Construction ManagementShahin MB
This document describes several types of construction contracts: lump-sum, cost plus fixed fee, cost plus bid fee, guaranteed maximum, negotiated, unit-price, design-build, and turn-key. Lump-sum contracts establish a fixed total price upfront, while cost plus contracts reimburse the contractor's costs plus a fixed or percentage-based fee. Guaranteed maximum contracts set a ceiling on costs. Negotiated, unit-price, design-build, and turn-key contracts vary in responsibilities and payment structures.
Construction claims, disputes and project closuresrinivas2036
This document discusses construction claims, disputes, and project closure. It begins by explaining that during project execution, issues often arise between parties that cannot be resolved, resulting in claims from contractors for time extensions or cost reimbursements. These claims can be settled amicably or become disputes if the owner does not agree. Common sources of claims include defects in contracts, site conditions differing from descriptions, scope changes, and payment delays. The document provides guidance on claim management, notification, substantiation, and resolution procedures. It also discusses mechanisms for dispute avoidance and resolution such as negotiation, mediation, arbitration, and their advantages over legal proceedings.
FIDIC is an international federation of consulting engineers established in 1913. It publishes standard form construction contracts known by the color of their covers, such as the Red Book. The document discusses the history and evolution of FIDIC contracts, describing various contract forms like the Red Book, Yellow Book, and Silver Book. It also discusses the roles of consulting engineers and the Consulting Engineers Association of India, the Indian affiliate of FIDIC.
1) The document discusses various aspects of a construction contract such as tender documents, tender process, acceptance of tenders, contract documents, conditions of contract, and termination of contract.
2) Key elements of tender documents are the notice inviting tenders, tender forms, schedules, specifications, drawings, conditions of contract, and other required information. The tender process involves opening and scrutinizing tenders, preparing a comparative statement, and accepting the tender.
3) The contract documents formalize the agreement between the owner and contractor and include details of the work, estimated cost, security deposit, completion period, specifications, drawings, conditions of contract and signatures of both parties. The contract lays out terms for execution,
The document discusses different types of construction contract forms including traditional, design-build, management, and construction management contracts. It provides details on lump sum, measurement, and cost reimbursement contracts under the traditional method. Factors that influence the choice of contract form are also summarized such as project complexity, client experience, certainty of costs, allocation of risk, and nature of the project. The key differences between various contract types such as lump sum vs measurement contracts and management vs construction management contracts are highlighted.
The document discusses various aspects of construction project contracts and tendering processes. It describes earnest money deposits (EMD) and security deposits contractors must provide, as well as retention amounts deducted from payments. It outlines different methods for selecting contractors, including public tender, prequalification, post-qualification, limited tender, and nomination. Key clauses like liquidated damages, defect liability periods, and arbitration are also summarized.
This document outlines the tender process for the construction of a 4-story commercial building. It includes 9 sections covering instructions, conditions, forms, specifications and drawings. Requirements include experience with similar projects of at least 1.2 crore BDT, an annual turnover of 1 crore BDT, and liquid assets of 80 lacs BDT. The tender submission deadline is November 12th, 2015. The opening will be on November 17th at the Executive Engineer's office. The performance security required is 10% of the contract price. The intended completion date for the project is November 5th, 2017.
The document discusses various types of construction contracts and tendering processes. It defines a tender as an invitation from an owner to contractors to execute work at a specified cost and time. There are different types of tenders including open, sealed, limited, and single tenders. Key aspects of the tendering process include tender forms, documents, notices, evaluation criteria, acceptance procedures, contract documents, deposits, and measurements. Different types of construction contracts are also summarized such as lump-sum, item rate, percentage rate, cost plus, and turn-key contracts.
This document discusses types of construction projects and project management in the context of construction. It outlines four main types of construction projects: residential, institutional/commercial, specialized industrial, and infrastructure/heavy construction. It then provides details on the construction project life cycle and key aspects of project management for construction, including work breakdown structures, Gantt charts, and the role of the project manager.
This document discusses various types of construction contracts. It describes direct employment, where the owner hires an organization to be responsible for construction. It also discusses fixed-price contracts like lump sums and unit prices, where the contractor agrees to a fixed total price or unit rates. Cost-plus contracts shift risks to the owner by paying the contractor's actual costs plus a percentage fee, without incentives for the contractor to control costs. Other contract types like target estimates and guaranteed maximum costs aim to balance risks between the owner and contractor.
The document discusses different types of construction contracts. It defines a contract and explains key components like offer, acceptance, consideration. It then describes various types of construction contracts including unit price contracts, lump sum contracts, labour contracts, and project management contracts. For each type, it provides details on how payment is determined and highlights their advantages and disadvantages. Project management contracts allow clients to focus on their core work while the project manager oversees construction management. While clients pay extra fees, project management can help complete projects on time and within budget.
The document discusses various types of construction contracts including lump sum, item rate, cost plus, and other common contract types. It provides details on key elements that define each type of contract such as payment structure, risk allocation, flexibility for changes, and incentives for contractor performance. Common terms are also defined, such as contractor, tendering process, and contract agreement components.
•What is Contract?
•What is Construction Contract?
•Purpose of Construction Contract
•Contract for Bid and Procurement
•Contract for Pricing Arrangement
•Construction Contract Component
•Contract Document List
•Standard Form of Contract in Malaysia
The document discusses various types of contract structures and payment methods for construction projects. It describes conventional/traditional contracts, turnkey contracts, design-build contracts, construction management contracts, and guaranteed maximum price contracts. It also covers lump sum, measurement, and cost reimbursement pricing approaches. Factors that influence contract selection include project complexity, schedule, client experience, regulations, risk allocation, and the nature of the project. The document emphasizes that properly structuring the contract and payment terms is important to allocate risk appropriately between the client and contractor.
Contract Management - Contracts Types and Payment StructureHASMANIRA
The document discusses various types of contract structures and payment methods for construction projects. It describes conventional/traditional contracts, turnkey contracts, design-build contracts, construction management contracts, and guaranteed maximum price contracts. It also covers factors that determine the appropriate contract structure for a project, such as complexity, schedule, client experience, regulations and risk allocation. Finally, it discusses various methods for determining payment, including lump sum, remeasurement/bill of quantities, and cost reimbursement approaches.
This document discusses various types of construction contracts, including lump-sum, cost-plus percentage, cost-plus fixed fee, percentage rate, item rate, turnkey, cost-plus sliding scale of fees, negotiated, target, labor, joint venture, and BOT contracts. Each type is briefly defined and its key advantages and disadvantages are outlined. The document provides a high-level overview of common construction contracting methods.
The document discusses the types of contracts used in construction projects. It states that the material in the presentation is intended for educational purposes during the COVID-19 lockdown situation. Fair use of copyrighted material is permitted under accepted law. The contents are only intended for attendees of the class being conducted. It then defines contracts and describes various types of construction contracts like fixed-price contracts (lump sum, unit price), cost plus contracts, design and build contracts, construction management contracts, and other types like time and materials, supply, and build-operate-transfer contracts.
Chapter-2 Construction Contract. Subject code:3160614ptxsulevrunda
This document describes 12 types of construction contracts: item rate, percentage rate, lump sum, all in, labor, materials supply, piece work, cost plus percentage rate, cost plus fixed fee, cost plus sliding fee, target, and BOT. Each type is defined, with item rate, percentage rate, and lump sum contracts explained in further detail regarding their advantages, disadvantages, and key aspects.
These five types of construction contracts are widely used across the world. Get to about the lump-sum contract, unit-rate contract, cost-plus contract, time & material contract, and target cost contract. All the contract types are explained with their respective example, pros and cons.
Final types of contracts- different types of contractsMohammedAlfayad2
The document discusses different types of construction contracts:
- Item rate contracts pay contractors based on actual quantities measured at agreed unit rates. This allows for variation in quantities but the total cost may change.
- Percentage rate contracts use estimated quantities but contractors bid a percentage above or below rates rather than individual rates, removing potential for unbalanced bids.
- Lump sum contracts require contractors to complete the entire scope for a fixed price, with provisions sometimes to adjust for changes.
This document discusses various aspects of contract management for construction projects including methods of work execution, types of contracts, and the tendering process. It describes executing work through amanat (directly by the owner) or through contracts. It outlines various types of contracts like lump sum, unit price, cost reimbursable, design-build, and BOOT/BOT. Finally, it explains the tendering process which involves preparation, tender notice, tender document, conditions of contract, prequalification, evaluation, and selection/award.
Project procuremenet contract in ethiopiaGuta Mengesha
This document discusses project procurement and contract administration in the Ethiopian context. It defines procurement contract administration as the management of all actions after a contract is awarded. It discusses the meaning of contracts, elements of a valid contract, and different types of contracts including fixed price, cost reimbursement, and project procurement contracts. Challenges in procurement contract administration in Ethiopia are also mentioned. The document provides an overview of key concepts in project procurement and contract management.
Cfr ias 11 construction contract presentation by MOHSIN MUMTAZmianmohsinmumtazshb
This document discusses accounting standards and concepts related to construction contracts. It defines key terms like contractee, contractor, tender price, contract price, work completed, work certified, and work uncertified. It explains how to calculate profit or loss on completed and uncompleted contracts. It discusses recognizing contract revenue and expenses over time based on the percentage of completion method. Disclosure requirements are also outlined. The objective is to match revenue with related costs in the proper periods for construction projects that may span multiple accounting periods.
This document provides an overview of IAS 11 Construction Contracts, including the standard's scope, types of construction contracts, classification of contracts, accounting for contract revenue and costs, and recognition of revenue and costs over time based on the percentage of completion method. Key points covered include distinguishing between fixed-price and cost-plus contracts, treating multiple or additional asset contracts as separate or combined, including variations, claims and incentives in revenue, and recognizing expected losses immediately.
For General Information Only Owners of Single Family Residences in California Only. Typically, before a general contractor starts “on the road” to completion of a major reconstruction project based on design documents an architect has prepared, several contracts that should lay out the “rules of the road” to project success have already been signed. A number of events that usually arise during a repair process can have significant impact on an owner can occur without an agreement prepared by counsel.
This document discusses IAS 11, which provides accounting standards for construction contracts. It defines key terms like construction contract and outlines the objectives of recognizing revenue and expenses over the duration of a contract based on the percentage of completion. It also addresses how to account for expected losses and incomplete contracts, and notes some differences between IAS 11, US GAAP, and UK GAAP standards. Contract accounts are used to track costs, revenue, and progress payments for construction projects.
This document discusses various types of engineering contracts and their key terms and conditions. It begins by outlining the four main functions of engineering contracts: scope of work, period of performance, payment, and termination. It then describes different types of civil engineering contracts such as item rate, percentage rate, and lump sum contracts. Finally, it lists important contract terms and conditions like security deposits, compensation for delays, extensions, completion certificates, and measurements and payments.
Contract costing is a type of specific order costing used for long-term construction contracts. It involves tracking direct and indirect costs for each individual contract over its duration. Direct costs make up a higher proportion of total contract costs than indirect costs. Contracts can be fixed-price, where the total price is agreed upfront, or cost-plus, where the contractor is reimbursed for costs plus a fee or percentage of costs. Profits are calculated separately for each contract based on the percentage of completion or upon full completion of the work. Progress payments received are tracked separately from costs until contract completion.
This document outlines and describes several common types of building contracts: lump-sum, cost plus fixed fee, cost plus bid fee, guaranteed maximum, negotiated, unit-price, design-build, and turn-key contracts. Lump-sum contracts establish a fixed total price upfront, while cost plus contracts reimburse contractors for all costs plus an additional fee. Guaranteed maximum contracts set a ceiling on costs. Negotiated contracts involve selecting contractors and then negotiating payment terms. Unit-price contracts are based on estimated quantities of work. Design-build and turn-key contracts make a single entity responsible for both design and construction.
Particle Swarm Optimization–Long Short-Term Memory based Channel Estimation w...IJCNCJournal
Paper Title
Particle Swarm Optimization–Long Short-Term Memory based Channel Estimation with Hybrid Beam Forming Power Transfer in WSN-IoT Applications
Authors
Reginald Jude Sixtus J and Tamilarasi Muthu, Puducherry Technological University, India
Abstract
Non-Orthogonal Multiple Access (NOMA) helps to overcome various difficulties in future technology wireless communications. NOMA, when utilized with millimeter wave multiple-input multiple-output (MIMO) systems, channel estimation becomes extremely difficult. For reaping the benefits of the NOMA and mm-Wave combination, effective channel estimation is required. In this paper, we propose an enhanced particle swarm optimization based long short-term memory estimator network (PSOLSTMEstNet), which is a neural network model that can be employed to forecast the bandwidth required in the mm-Wave MIMO network. The prime advantage of the LSTM is that it has the capability of dynamically adapting to the functioning pattern of fluctuating channel state. The LSTM stage with adaptive coding and modulation enhances the BER.PSO algorithm is employed to optimize input weights of LSTM network. The modified algorithm splits the power by channel condition of every single user. Participants will be first sorted into distinct groups depending upon respective channel conditions, using a hybrid beamforming approach. The network characteristics are fine-estimated using PSO-LSTMEstNet after a rough approximation of channels parameters derived from the received data.
Keywords
Signal to Noise Ratio (SNR), Bit Error Rate (BER), mm-Wave, MIMO, NOMA, deep learning, optimization.
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Here's where you can reach us : ijcnc@airccse.org or ijcnc@aircconline.com
Sri Guru Hargobind Ji - Bandi Chor Guru.pdfBalvir Singh
Sri Guru Hargobind Ji (19 June 1595 - 3 March 1644) is revered as the Sixth Nanak.
• On 25 May 1606 Guru Arjan nominated his son Sri Hargobind Ji as his successor. Shortly
afterwards, Guru Arjan was arrested, tortured and killed by order of the Mogul Emperor
Jahangir.
• Guru Hargobind's succession ceremony took place on 24 June 1606. He was barely
eleven years old when he became 6th Guru.
• As ordered by Guru Arjan Dev Ji, he put on two swords, one indicated his spiritual
authority (PIRI) and the other, his temporal authority (MIRI). He thus for the first time
initiated military tradition in the Sikh faith to resist religious persecution, protect
people’s freedom and independence to practice religion by choice. He transformed
Sikhs to be Saints and Soldier.
• He had a long tenure as Guru, lasting 37 years, 9 months and 3 days
A high-Speed Communication System is based on the Design of a Bi-NoC Router, ...DharmaBanothu
The Network on Chip (NoC) has emerged as an effective
solution for intercommunication infrastructure within System on
Chip (SoC) designs, overcoming the limitations of traditional
methods that face significant bottlenecks. However, the complexity
of NoC design presents numerous challenges related to
performance metrics such as scalability, latency, power
consumption, and signal integrity. This project addresses the
issues within the router's memory unit and proposes an enhanced
memory structure. To achieve efficient data transfer, FIFO buffers
are implemented in distributed RAM and virtual channels for
FPGA-based NoC. The project introduces advanced FIFO-based
memory units within the NoC router, assessing their performance
in a Bi-directional NoC (Bi-NoC) configuration. The primary
objective is to reduce the router's workload while enhancing the
FIFO internal structure. To further improve data transfer speed,
a Bi-NoC with a self-configurable intercommunication channel is
suggested. Simulation and synthesis results demonstrate
guaranteed throughput, predictable latency, and equitable
network access, showing significant improvement over previous
designs
This study Examines the Effectiveness of Talent Procurement through the Imple...DharmaBanothu
In the world with high technology and fast
forward mindset recruiters are walking/showing interest
towards E-Recruitment. Present most of the HRs of
many companies are choosing E-Recruitment as the best
choice for recruitment. E-Recruitment is being done
through many online platforms like Linkedin, Naukri,
Instagram , Facebook etc. Now with high technology E-
Recruitment has gone through next level by using
Artificial Intelligence too.
Key Words : Talent Management, Talent Acquisition , E-
Recruitment , Artificial Intelligence Introduction
Effectiveness of Talent Acquisition through E-
Recruitment in this topic we will discuss about 4important
and interlinked topics which are
Covid Management System Project Report.pdfKamal Acharya
CoVID-19 sprang up in Wuhan China in November 2019 and was declared a pandemic by the in January 2020 World Health Organization (WHO). Like the Spanish flu of 1918 that claimed millions of lives, the COVID-19 has caused the demise of thousands with China, Italy, Spain, USA and India having the highest statistics on infection and mortality rates. Regardless of existing sophisticated technologies and medical science, the spread has continued to surge high. With this COVID-19 Management System, organizations can respond virtually to the COVID-19 pandemic and protect, educate and care for citizens in the community in a quick and effective manner. This comprehensive solution not only helps in containing the virus but also proactively empowers both citizens and care providers to minimize the spread of the virus through targeted strategies and education.
2. WHAT IS CONTRACT?
▪ When two or more persons have a common intention communicated to each other to
create some obligation between them, there is said to be an agreement.
▪ An agreement which is enforceable by law is a “Contract”.
▪ According to section 10 of the Indian Contract Act,1872 only those agreements are
enforceable by law which are made by the free consent of parties competent to
contract, for a lawful consideration and with a law object and are not expressly
declared to be void.
▪ This is subject to any special law according to which contract should be in writing
and attested by witness.
3. TYPES OF CONTRACT
▪ There are four main types of construction contract, identified according to the
mechanism for calculating the sum due to be paid by the employer:
1. Lump-Sum or Fixed Price Contract
2. Cost Plus Contract
3. Time and Materials Contracts
4. Unit Price Contract
▪ The different types vary primarily with regard to who takes the risks involved, which
party has to pay for the cost over runs, and which party can keep the savings if the
project costs are less than the estimated costs.
4. LUMP-SUM CONTRACT
▪ This is a single fixed contract.
▪ This contract is normally used I the
construction industry to reduce design
and contract administration costs.
▪ It is called as lump sum because the
contractor is required to submit a total
and global price instead of bidding on
individual items.
▪ A lump sum contract is the most
recognized agreement form on simple
and small projects and projects with a
well-defined scope or construction
projects where the risk of different site
conditions is minimal.
▪ In this contract, contractor agrees to
perform specified job for fixed sum.
▪ The owner provides the contractor
exact specification of the work.
▪ In this contract, both the parties try to
fix the conditions of the world as
precisely as possible.
▪ This type of contract usually is
developed by estimating labor costs,
material costs, and adding a specific
amount that will cover the contract’s
overhead and profit margin.
5. ADVANTAGE
▪ Fixed construction cost.
▪ Contractor gets free hand to execute
the work.
▪ Accepted widely as a contracting
method.
▪ Bidding analysis and selection process
is relatively easy.
▪ The contractor will maximize its
production and performance.
DISADVANTAGE
▪ It presents the highest risk to the contractor.
▪ Changes are difficult to quantify.
▪ In the case of unforeseen hazard during the
construction, contractor may be put in adverse
situation.
▪ The construction process could take longer
than other contracting alternatives.
▪ The project needs to be designed completely
before the commencement of activities.
6. UNIT PRICE CONTRACT
▪ Also called a Schedule Contract.
▪ In this contract, the contractor undertakes the execution of work on an item rate basis.
▪ The amount received by the contractor depends upon the quantities of various items of
work actually executed.
▪ The payment to the contractor is made on the basis of detailed measurements of
different items of work actually done by him.
▪ The item rate contract is most commonly used for all types of engineering works
financed by public or government bodies.
7. ADVANTAGE
▪ There is no need for detailed drawing at
the time of allotting contract.
▪ The detailed drawing can be prepared after
the contract is awarded.
▪ Changes in drawing and quantities of
individual items can be made as per
requirement within agreed limits.
▪ The payment to the contractor is made on
the actual work done by his at the agreed
rates.
DISADVANTAGE
▪ The total cost of work can only be
known upon completion.
▪ Additional staff is required to take
detailed measurements of work done for
releasing payments to the contractor.
▪ The scope for additional saving with the
use of interior quality materials may
prompt to contactor to use such
materials in the work.
8. ▪ Other types of contract and descriptions of contractual purpose include:
a) Commercial contract
b) Domestic building contract
c) Percentage rate contract
d) Lump sum and scheduled contract
e) Cost plus fixed fee contract
f) Cost plus percentage of cost contract
g) Subcontract agreement
h) Special contracts
9. Commercial contracts
▪ A commercial contract is an agreement containing all the work that should be performed for the
construction of a commercial building or non-residential building. A skillfully constructed
commercial contract can protect both parties' interests, minimize risks, and increase profitability
for the contractor.
Domestic construction contracts
▪ A domestic building contract is an agreement containing all the work that should be performed
for the construction of a commercial or residential building existing or occurring inside a
particular country; not foreign or international.
Percentage rate contract
▪ When the lowest rate and comparative position among the contractors are already specified prior
to the opening of the tender, then the percentage rate contract is used. Percentage contract is a
type of contract where there is no possibility of unbalanced tender.
10. LUMP-SUM AND SCHEDULE CONTRACT
▪ This is similar to the lump-sum contract expect the schedule of rates is also included in
the contract agreement.
▪ In this type of contract, the contractor offers to do a particular work at a fixed sum
within a specified time a per plans and detailed specifications.
▪ The schedule of rates for various items is provided which regulates the extra amount to
be paid or deducted for any additions or deletions made during the progress of work.
▪ Under a lump sum contract, a “fixed price” for the work to be done is agreed upon by
the client and contractor before the work begins.
▪ This contract can also be applied to both home building and commercial contracts.
▪ It can be more of a risk to the contractor as there are fewer mechanisms to allow them
to vary their price.
11. ADVANTAGE
▪ Additional staff for recording detailed
measurements of original item of work is
not required for making to the contractor.
▪ The owner can know from tenders as to
what the project will cost him.
▪ Knowing the financial implication, the
owner can decide to start or defer the
project.
DISADVANTAGE
▪ Before the contract is awarded the project has
to be studied thoroughly and all the contract
documents are required to be completed in
every respect.
▪ The non-scheduled extra items arising out of
changes made in the drawings and the
specifications are often a source of dispute
because the contract presses for higher than
the prevailing market rates.
12. COST PLUS FIXED FEE CONTRACT
▪ In cost plus fixed fee contract, the owner pays the contractor an agreed amount over
and above the documented cost of work.
▪ The amount of fee is determined as a plump from a consideration of the scope of work,
its approximate cost, nature of work, estimated time of construction, manpower and
equipment requirement, etc.
▪ This type of construction contract is an alternative to lump sum agreements. It allows
flexibility and transparency for the homeowner, and reduces the risk for a contractor
since a Cost Plus construction contract guarantees them a profit.
▪ The difference between this type of contract which is a cost-based contract with lump-
sum contract is that in guaranteed maximum price (GMP), if there is any savings
resulted from cost under runs, then that would be stipulated price contract, and the
contractors will keep the savings obtained from the cost under runs for themselves and
there is no obligation for them to give them back to the owners. Nevertheless, this
saving can be shared by both the contractor and the owner.
13. ADVANTAGE
▪ Actual cost is to be paid by the owner.
Therefore, the contractor performs the work
in the best interest of the owner resulting in
good quality work.
▪ The work can be taken in hand even before
the detailed drawings and specifications are
finalised.
▪ Changes in design and method of
construction if needed can be easily carried
out without disputes.
▪ The work can be executed speedily.
DISADVANTAGE
▪ This from of contract cannot be adopted
normally in case of public bodies and the
Government departments.
▪ In this type of contract, the owner has more
authorities in monitoring, inspecting and
auditing the project periodically before
ultimate payment.
▪ Therefore, the risk will be transferred from
owner to contractor and this would be an
attraction for the customer.
14. COST PLUS PERCENTAGE OF COST CONTRACT
▪ In this type of contract, instead of awarding the work on lump-sum item rate basis, it is
given on certain percentage over the actual cost of construction.
▪ In this type of contract, contractor is paid the actual cost of work plus certain
percentage as profit. Various contract documents, drawing, specifications are not
necessary at the time of signing the agreement.
▪ The contractor has to keep all records for cost of material and labour and contractor
will be paid accordingly to engineer in charge.
▪ This type of contract is suitable for emergency work like difficulties in foundation
conditions, construction of expensive structure, etc.
15. Subcontract agreement
▪ A subcontractor agreement is a contract primarily between a builder or a principal
contractor and subcontractor. It outlines the perimeters of specialist work to be done
for the construction project.
Special contracts
▪ They are further classified into:-
i. Turn key contract
ii. Negotiated contract
iii. Package contract
iv. Continuing contract
v. Running contract
16. Turn-key Contract
▪ A turn-key contract is an integrated contract
in which all works pertaining to various
disciplines such as civil, electrical,
mechanical, etc. are in the hands of a single
contractor called the main contractor.
Package Contract
▪ In the package contract, two or more related
jobs, each of which could form a separate
contract are combined in a single contract.
▪ In the field of civil engineering, generally
design and development are combined with
construction and supply or maintenance.
Negotiated Contract
▪ In this type of contract, negotiation across
the table takes place between representatives
of the owner and the main contractor for
project cost and other conditions of the
contract.
▪ In this type of contract, detailed projects
specifications are arrived at the discussion
between the owner and the main contractor
and consultant.
17. Continuing Contract
▪ In this type of contract, new or additional work is awarded to the contractor on the basis of
agreed terms and conditions of an existing contract.
▪ Such contracts do not require re-tendering and hence can save time and money.
Running Contract
▪ Such contracts provide goods and services at specified intervals or as when required by the
owner.
▪ The contract price is not fixed and payment is based on goods supplied and service rendered
as specified in the contract documents.
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