BIM meaning

On 24 January 2024, the parliamentary Work and Pensions Committee (WPC) contacted Bim Afolami, the Economic Secretary to the Treasury, to gauge the government’s intended approach to additional oversight of superfunds. The nascent defined benefit (DB) superfund market has been operating under a set of interim rules published by The Pensions Regulator (TPR) in 2020. Ministers have repeatedly pledged to introduce a lasting regime via primary legislation, yet almost four years later this has not materialised. In his letter, committee Chair Sir Stephen Timms pressed Afolami on whether primary legislation is required to deliver a permanent regulatory framework for pension superfunds...

In this issue: UK, EU and international regulators and bodies Prudential requirements Operational resilience Financial crime and sanctions Complaints, compensation and claims management Investigations, enforcement and discipline Regulation of benchmarks and IBOR reform Regulation of capital markets Dispute resolution for financial services lawyers Regulation of derivatives Sustainable finance and ESG Banks and mutuals Investment funds and asset management MiFID II Consumer credit, mortgage and home finance Regulation of insurance Payment services and systems Amendments to EEA Agreement Annex IX (Financial Services) Financial Services Enforcement Database Daily and weekly news alerts Intraday news alerts New and updated content Dates for your diary UK, EU and international regulators and bodies Bim Afolami responds to Treasury Committee report on progress of the Edinburgh Reforms The economic secretary to the Treasury, Bim Afolami, has issued a reply to the Treasury Committee’s Second Report of...

In this issue: JCT contracts Building safety Payment Litigation Procurement in construction Infrastructure projects Tax Construction industry news Daily and weekly news alerts New and updated content Construction trackers JCT contracts JCT releases Target Cost Contract family On 25 June 2025, the JCT formally unveiled its comprehensive Target Cost Contract suite. The set comprises, namely, the Target Cost Contract 2024, Target Cost Sub-Contract Agreement and Conditions 2024, Target Cost Contract Guide 2024, and also Target Cost Sub-Contract Guide 2024. Alongside the Target Cost family, the JCT also issued its separate Tendering Practice Note 2024. This family is specifically intended for projects where the Employer seeks to motivate the Contractor by agreeing a Target Cost, with arrangements for both sides to split jointly any savings or overspends (i.e. a pain and gain mechanism). Copies can be purchased via the JCT online store directly. Reference versions will soon appear on Lexis+ Construction, within our...

ARCHIVED: This Practice Note has been archived and is not maintained. Last updated April 2016 The Government Construction Strategy (‘the Strategy’) was introduced in May 2011 to overhaul public sector construction procurement by championing efficiency, fostering innovation and stimulating growth across the industry. Its core objective was to cut the cost of government construction by 15–20% before the close of the parliamentary term, aligning with Infrastructure UK’s three‑year Infrastructure Cost Review programme. The government’s One Year On update, issued in July 2012, showed that applying the Strategy’s principles had already delivered savings within the year and reduced whole‑life project costs. On 23 March 2016, the Infrastructure and Projects Authority released the Government Construction Strategy 2016–2020, presented as a continuation of the achievements of the Government Construction Strategy 2011–2015. It recorded £3 billion in efficiency savings between 2011 and 2015. For further details on the 2016–2020 Strategy, see Practice Note: Government Construction Strategy 2016-2020 [Archived]...

ARCHIVED: This Practice Note has been archived and is no longer maintained. It collates all our relevant content regarding the changes introduced in the 2016 editions of the Joint Contracts Tribunal (JCT) standard form construction contracts...

Partnering The idea of partnering arose in response to the criticisms directed at relationships in the construction sector by the Latham and Egan reports during the 1990s. Partnering highlights collaborative ways of working and continual improvement through performance measurement and long-term relationships, seeking to prevent many of the issues that stem from ‘traditional’ building contracts which, in certain respects, seem to expect failure rather than encourage success and advancement. A standard-form construction contract embodies many of the partnering principles championed by Latham. See Practice Note: Partnering. It was commissioned by the Association of Consulting Architects (ACA) and prepared by Trowers & Hamlin LLP. First released in 2000, further editions appeared in 2003, 2008 and 2013. It was the first standard-form partnering contract. In principle, the contract can be used for any kind of project and in any jurisdiction. Within the UK, it is widely adopted in the public sector (especially for social housing projects), while also being taken up on private sector projects...

Agreement concerning [ insert brief details of the works/project ] at [ insert address of works ] (incorporating, among other things, the JCT Standard Building Sub-Contract Agreement 2024 (SBCSub/A 2024) and the JCT Standard Building Sub-Contract Conditions 2024 (SBCSub/C 2024), each as amended and supplemented as set out in this Agreement and in the Schedules to it). This Agreement is dated the [ insert number ] day of [ insert month ] 20[ insert year ] Parties [ insert name of the Contractor ] (company registration number [ insert number ]), whose registered office is at [ insert address of the Contractor ] (“the Contractor”) [ insert name of the Sub-Contractor ] (company registration number [ insert number ]), whose registered office is at [ insert address of the Sub-Contractor ] (“the Sub-Contractor”) Now it is agreed that: 1 Interpretation In this Agreement, words and expressions carry the meanings respectively attributed to them in the JCT SBCSub/A 2024 and...

The Contract comprises the completed Standard Building Contract Without Quantities for use in Scotland 2016 published by the SBCC subject to the following amendments: Recitals and Articles updated: contractor to provide a master programme and Schedule of Information Requirements; CDP responsibility accepted; Principal Contractor duties priced; arbitration deleted; Schedule of Amendments prevails; Third Party Agreements duties. Contract Particulars: arbitration entries removed; Rectification Period set at 12 months; fluctuations and certain PII/guarantee entries deleted. Conditions: key definitions revised (Practical Completion, Copyright Material, Design sub‑contractors, Funder, Site); Scottish jurisdiction; approvals mean principles only; entire agreement; variations in writing. Design/materials/programming: contractor accepts ER/CP; quality and non‑deleterious materials; programme reporting; site risk; drawings/info supply; tighter discrepancy notices. Time/defects: mitigate and advise on delay; narrower Relevant Events; Practical Completion clarified; stronger rectification, consequential damage and indemnity; phased as‑built/occupation information. IP/confidentiality/BIM: broader licence, moral rights waivers and delivery; confidentiality reinforced; BIM where adopted. Management/sub‑contracting: access, approved Site Manager, meetings; prescribed sub‑contracts; collateral warranties/third‑party rights; CDM duties; insurance...

The Architect shall: General responsibilities (Stages 0–7) Lead Consultant: advise on scopes, guide specialists, integrate and co‑ordinate design, chair design meetings with minutes, manage Client–Design Team communication, collate stage reports. Act as or liaise with the Principal Designer under CDM 2015 and Building Regulations 2010; manage Client instructions; agree deliverables; design to budget; brief on duties; liaise with the BIM Manager. Stage 0: advise on risks, finance and feedback; visit site; assist with Design Team appointments; Stage 0 report. Stage 1: feasibility; arrange/collate surveys; develop the strategic brief into the Project Brief (sustainability, quality, spatial needs); set procurement, programme and PEP; align budget; Stage 1 report. Stage 2: concept and outline proposals aligned to cost plan and strategies; cost advice; compliance route and pre‑application planning; Stage 2 report. Stage 3: spatial co‑ordination; planning applications/consents, revisions and conditions; select materials/methods; value engineering; tender support; Stage 3 report. Stage 4: technical design, specifications and packages; building regulations submissions; ERs, Construction Phase Plan; Stage...