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The following Construction news provides comprehensive and up to date legal information on Construction weekly highlights—15 May 2025
What are preliminaries in a construction contract?What are prelims?‘Preliminaries’ in a construction contract, or ‘prelims’, is typically taken to...
What is a variation on a construction project?A variation (sometimes referred to as a change) is an alteration to the scope of work originally...
Escrow accounts and escrow agreementsThis Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or...
Defects liability period and rectification of defectsIt is common in construction projects for defects to manifest or appear in the works. Most...
Repair and maintenance contractsThis Practice Note looks at the nature of repair and maintenance contracts, how they are used and the different types of such contracts: term contracts and contracts for specific, pre-defined works. It looks at particular considerations that need to be taken into
Standard form building contractsThere have been standard forms of building contracts in the UK for over 100 years and their use is extremely widespread. There are now numerous forms that the parties to a construction project can choose to adopt—the range of contracts that has developed over the
Pricing structures in construction contractsThis Practice Note compares the pricing structures most commonly used in construction contracts. It considers lump sum, remeasurement, prime cost and target cost contracts.Lump sumAlso known as:Fixed priceIn a nutshell:The contract sum is agreed before the
Target cost contracts on construction projectsWhat is a target cost contract?A target cost contract is a type of cost reimbursable contract under which the contractor is paid the ‘actual cost’ (usually defined in the particular contract) it incurs in carrying out the works, but subject to a target
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