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ANNEXURE A: PRELIMINARIESItem No.UnitQuantityRateAmountBILL NO. 1 PRELIMINARIES BUILDING AGREEMENT AND PRELIMINARIES The JBCC Principal Building Agreement (March 2014 Edition 6.1) prepared by the Joint.

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Secondly, the JBCC is drafted by role-players from all walks of the Construction industry. Therefore, the contract provide an equitable balance of risk, ensuring that no single party is disproportionately burdened. This fosters a spirit of cooperation and mutual respect, which is pivotal to the success of any project.

Tender sum is the amount of money the contractor offers to carry out a building project and this amount has being accepted by the client. It is also referred to as the contract sum. When the Joint Contract Tribunal standard form of contract is used, tender sum or contract sum is the amount named in Article 2.

However, the contract value is the monetary value initially equal to the contract sum, which is subject to an adjustment. This amount constitutes what is actually owed to the contractor (i.e.: the employer's actual liability towards the contractor).

The 4 Different Types of Construction Contracts Lump Sum Contract. A lump sum contract sets one determined price for all work done for the project. ... Unit Price Contract. ... Cost Plus Contract. ... Time and Materials Contract.

In short, contract value is the total value of a contract over its lifespan. This can include the cost of goods or services, any associated taxes, and any other fees that may apply. But contract value is more than just a number. It's also a way to measure the worth of a business relationship.

The contract sum is the price agreed with the contractor and entered into the contract. The agreed contract sum should be calculated and checked very carefully as errors are deemed to have been accepted by both parties.

Contracts such as FIDIC, NEC, and GCC can be utilized on all types of engineering and construction contracts. The JBCC contract, on the other hand, is limited to building projects. Engineering and construction works contracts are summarized in the FIDIC, NEC, and JBCC series of documents.

JBCC Nominated Sub-contract Agreement (NSA): This contract is typically used between the main contractor and a nominated subcontractor. It sets out the terms and conditions for the subcontractor's work on the project, including the scope of work, the project schedule, and the payment terms.

What is the purpose of the JBCC? The Joint Building Contracts Committee (JBCC) seeks to provide (primarily) the southern African building industry with appropriate building contracts, implementation forms and application guides to manage the building process fairly and competently.

What is the Contract Sum? The Contract Sum is the price paid to the contractor for the scope of work to be completed. As a general rule, the Contract Sum will be stated in the formal instrument of agreement and can take the form of: a lump sum figure. a schedule of rates (SoR)

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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232