ShanghaiPresentationContract.pptVIP

Contract Administration- Key Issues to Consider Presented by Ivan YC Cheung, Partner BSc, DipArb, MRICS, MHKIS, FCIArb, MAE HKIAC Accredited Mediator HKIAC List of Arbitrator Agenda What is a Contract The Essential Elements of a Contract Contract Documentation Contractual Relationship Scope of Works Form of Contract Key Terms Conditions Common Areas of Concern What is a Contract The Essential Elements of a Contract Contract Documentation Articles of Agreement Conditions of Contract Contract Correspondence Conditions of Tender Form of Tender Pricing Documents (BQ/SOR) Specifications Drawings Contractual Relationship Clear lines of contractual relationships Interfacing between contractors, subcontractors and direct contractors Nominated subcontract Domestic subcontract Scope of Works Specification Drawings Hoarding plan Clear description of works Clear site boundary Form of Contract Standard Form or Ad hoc? Amendments to Standard Form? Consistency of terms Order of precedence Key Terms and Conditions Instructions Variations Completion Defects EOT Loss and Expenses Common Areas of Concern Commencement of work without formal contract Unclear scope of works Ambiguous methods of valuation of variations Contract period not clearly defined No mechanism for granting EOT Liquidated damages not a genuine pre-estimate Late payments Contractual interest rates for late payment Period for final measurement/final account agreement Delivering better value results for clients Delivering better value results for clients Shanghai 21 July 2008 “an agreement enforceable at law” “A contract is made where the parties have reached agreement, or where they are deemed to have reached agreement, and the law recognises rights and obligations arising from the agreement” Offer Acceptance Intention Consideration } Agreement Payment Insurance Bond Termination Dispute resolution Delivering better value results for clients