Open book contract meaning

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Off-site construction A project delivery method in which a portion of construction work is undertaken in factory conditions and then transported to the site later on. It commonly involves fabricating modules that are also subsequently assembled on site. See also News Analysis: Off-site construction—the legal implications and Practice Note: Modern Methods of Construction. O&M manuals See Operation and maintenance manuals below. On default bond A conditional bond that is callable upon the contractor’s default...

Introduction Project Partnering Contracts originated from the work of Professor David Mosey PhD at King’s College, London, whose scholarship examines the cross-disciplinary links between construction law and the changing practices of procurement and project management. This embraces study of partnering, alliancing, joint ventures and other routes to collaborative working. The contracts are backed by King’s College and the Association of Consultant Architects. PPC2000 was revised in 2003, 2008 and again in 2013, which is the current edition. It is thought there are no reported cases on PPC2000, suggesting either its effectiveness or, alternatively, its limited deployment. Pricing under PPC2000 Under the PPC2000 Partnering Contract, pricing follows a two-stage approach designed to achieve transparency and cost certainty, while encouraging the pursuit of cost savings, added value and value engineering. The pricing mechanism is split into two phases: the pre-construction phase and the construction phase. Pricing during the pre-construction phase At the outset of the pre-construction phase, the Client appoints design consultants and cost consultants: the design...

This Practice Note sets out the ‘two-stage tendering’ method widely adopted to procure building schemes. Many clients opt for two-stage tendering to bring a contractor on board sooner. It allows the client and the chosen contractor to collaborate in the second phase, with the contractor contributing to design, buildability and value engineering, while firming up the final price for the works. Two-stage tendering is most often applied when letting lump sum contracts, in both traditional and design and build procurement. How does it differ from traditional single stage tendering? Two-stage tendering is increasingly favoured as an alternative to the classic single stage route. Under single stage tendering, contractors submit a bid for the scheme on the basis of a design illustrated by drawings and a specification or, for design and build, the employer’s requirements and an agreed programme. After reviewing the returns, the employer selects the contractor it intends to appoint and with whom it will enter the building contract. As a result, the contractor typically has no...