In the area of law, for a contract to be legally enforceable, several requirements must be met, including an offer; acceptance of that offer; mutual understanding of the agreement; capacity to agree; an item or service; consideration in exchange for the item or service; and legality of the contract itself, including ...
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.
Contracts 'with quantities' are priced on the basis of drawings and firm bills of quantities. 'Without quantities' means a contract priced on the basis of drawings and usually another document, such as a specification or work schedules.
A general contractor license is mandatory if your business offers construction-related services in Virginia. However, the type of license you'll need depends on the size and type of projects your business will perform.
The employer must provide drawings together with a description of works, and either a specification or work schedules at tender stage. The project is generally not complex enough to require bills of quantities.
Clause 4.11 – In the event of non-payment or non-compliance with the above-mentioned Clauses, the Contractor has the right to suspend works and the process for doing so is explained in this Clause.
The term 'without quantities' refers to a construction contract or tender documents that do not include specific measured quantities of the items of work identified by the drawings and specifications. It can be used on projects where it is not possible to prepare a bill of quantities (BOQ) at the time of tendering.
So, if you ever come across someone referring to a 'JCT contract', it is typically about a standard building contract. These contracts are usually between an 'employer' and a 'contractor' to facilitate a building works project. They set out all of the relevant terms and conditions, including: Obligations of the parties.
Clause 4.7. 2 4.7. 2 The sum due as an Interim Payment shall be an amount equal to the Gross Valuation under clause 4.13 where Alternative A applies, or clause 4.14 where Alternative B applies, in either case less the aggregate of: 4.7.
4.21. 1 The Contractor shall notify the Architect/Contract Administrator as soon as the likely effect of a Relevant Matter on regular progress or the likely nature and extent of any loss and/or expense arising from a deferment of possession becomes (or should have become) reasonably apparent to him.