Bilateral contracts are agreements in which both parties exchange mutual promises to perform certain obligations, making this type of contract the most common in business transactions.
The 'main contract' is generally that which is awarded by the client (sometimes referred to as the employer) to the general contractor, or main contractor, whose tender has been accepted.
The (), ConsensusDocs, Design Build Institute of America (DBIA) and Engineers Joint Contract Documents Committee publish the most common forms used in the United States, while international projects often use forms available from the International Federation of Consulting Engineers ( ...
“Contact documents” are documents that are used to communicate information about a shipment between the parties involved in the shipping process. These parties may include the shipper, consignee, carrier, freight forwarder, customs officials, and other entities involved in the movement of goods.
However, the contract documents also provide other important information, such as the payment schedule, insurance requirements, and dispute resolution procedures. One key difference between contract documents and construction documents is that the former are legal documents, while the latter are technical documents.
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.
The most common standard forms of construction contract used in Malaysia are the PWD, PAM and IEM standard forms. International Federation of Consulting Engineers (“FIDIC”) standard forms are also available, but infrequently used.
A contract document is an agreement between two or more parties that establishes each party's obligations, responsibilities, and rights. The purpose of a contract document is to ensure that all parties involved in a project are clear about their roles and what is expected of them.
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.