Sia Building Contract 2016 Without Quantities In Phoenix
Description
Form popularity
FAQ
There are three main types of contract that use the SIA Conditions, namely: the Lump Sum Contract; Measurement Contract; and. Minor Works Contract.
What is a standard form contract? While many contracts are entirely purpose made, standard form contracts consist of standardised, pre-written terms and conditions. Because standard form contracts are familiar to people in an industry, they often function effectively without the need for much negotiation.
A standard form contract will typically be one prepared by one party to the contract and not negotiated between the parties—it is offered on a 'take it or leave it' basis.
Standard Form Contracts are agreements that employ standardised, non-negotiated provisions, usually in pre-printed forms. These are sometimes referred to as 'boilerplate contracts', 'contracts of adhesion', or 'take it or leave it' contracts.
The most commonly used standard forms of contract in Singapore are the Singapore Institute of Architects (“SIA”), Real Estate Developers' Association of Singapore (“REDAS”) and Public Sector Standard Conditions of Contract (“PSSCOC”) standard form contracts.
Standard-form contracts are pre-drafted templates with standard terms and conditions popular in similar transactions. By using a standard form, parties can save time and resources negotiating individual contract terms. It can be especially beneficial in industries with frequent transactions and similar terms.
The JCT Standard Building Contract is designed for large or complex construction projects where detailed contract provisions are needed. Standard Building Contracts are suitable for projects procured via the traditional or conventional method.
The most commonly used standard forms of contract in Singapore are the Singapore Institute of Architects (“SIA”), Real Estate Developers' Association of Singapore (“REDAS”) and Public Sector Standard Conditions of Contract (“PSSCOC”) standard form contracts.
On the basis of formation, the types of contracts are express contracts, quasi-contract, implied contracts, and E-contract. Based on performance, contract types are executed contracts, unilateral contracts, executory contracts, and bilateral contracts.
One of the unique features of the Singapore Institute of Architects Articles and Conditions of Building Contract (“the SIA Contract”) is that the contractor is assured of periodic valuation of works carried out and amounts expressed to be payable in the interim certificates.
