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Construction contract. A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors. The owner, often referred to as the 'employer' or the 'client', [1] has full authority to ...
Contract law. Offer and acceptance are generally recognized as essential requirements for the formation of a contract (together with other requirements such as consideration and legal capacity). Analysis of their operation is a traditional approach in contract law. This classical approach to contract formation has been modified by developments ...
The EPC contractor coordinates all design, procurement and construction work and ensures that the whole project is completed as required and in time. They may or may not undertake actual site work. EPC companies are often used in large-scale projects, such as power plants, refineries, chemical processing facilities, infrastructure projects, and ...
A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, [a] a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it ...
Project delivery method. Project delivery methods defines the characteristics of how a construction project is designed and built and the responsibilities of the parties involved in the construction (owner, designer and contractor). [1] They are used by a construction manager who is working as an agent to the owner or by the owner itself to ...
Contract awarding. Contract awarding is the method used during a procurement in order to evaluate the proposals (tender offers) taking part and award the relevant contract. [1][2] Usually at this stage the eligibility of the proposals have been concluded. So it remains to choose the most preferable among the proposed.
t. e. An invitation to treat (or invitation to bargain in the United States) is a concept within contract law which comes from the Latin phrase invitatio ad offerendum, meaning "inviting an offer". According to Professor Andrew Burrows, an invitation to treat is. an expression of willingness to negotiate.
The construction documents, specifically the technical specifications, require the contractor to submit product data, samples, and shop drawings to the architect and engineer for approval. This is one of the first steps that is taken by the contractor after execution of the construction contract and issuance of the "Notice to Proceed".