Apr 29
Risk in Construction Design and Build Contract Mitigating Potential Issues The Importance of Proper Risk Allocation in Design-Build Contracts Design-Build contracts have become a popular project delivery system for both public and private sectors in the United States. However, this system comes with its own set of risks that can be detrimental to both owners …
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Apr 12
PITFALLS & TIPS OF DEALING WITH SUBCONTRACT NOMINATION UNDER FIDIC & UAE CIVIL LAW The construction industry is a complex and challenging field, where many parties are involved in completing a project. One such party is the subcontractor, who is often nominated by the main contractor to perform a specific portion of work. The use …
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Apr 09
Lump Sum Contract VS FIDIC 99 Contract Lump Sum Lump Sum Typically used with Design-Bid-Build method of project procurement. a. A lump sum contract, sometimes called stipulated sum, is the most basic form of agreement between a supplier of services and a customer. The supplier agrees to provide specified services for a specific price. The …
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