Types Of Construction Contracts In Nigeria
Description
How to fill out Construction Contract For Home - Fixed Fee Or Cost Plus?
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The most common standard forms of construction contract in Nigeria are: the Joint Contract Tribunal (JCT) standard form of contract (without quantities), 2005 Edition; the standard form of building contract in Nigeria, 1990 (SFBCN); the International Federation of Consulting Engineers Contract (FIDIC), otherwise known ...
The 10 Types of Construction Documents for Construction Projects: 1: Construction Agreement. ... 2: General Conditions. ... 3: Special Conditions. ... 4: Scope of Work (SOW) ... 5: Drawings. ... 7: Bill of Quantities. ... 9: Schedule of Values. ... 10: Cost Estimate.
Here are five of the most important terms that should be a part of every construction contract. Scope of Work. Clients need to be clear about what a company is going to do for them. ... Payment Obligations. ... Insurance Information. ... Parties to the Agreement and Notice. ... Authority to Make Decisions.
Here are four main construction contracts to choose from, plus their pros and cons: Lump-Sum Contracts. Cost-Plus-Fee Contracts. Guaranteed Maximum Price Contracts. Unit-Price Contracts.