Regardless of the type of contract agreement used on a construction project, the final account is the conclusion of the contract sum (including all necessary adjustments) and signifies the agreed amount that the Employer will pay the Contractor. It includes any works that are paid to the Contractor through the Read more…
Under the FIDIC contract, Clause 3 deals with the duties and obligations of the Engineer and his assistants. Under Sub-Clause 3.3 the Engineer may issue instructions or modified Drawings at any time, which are necessary for the execution of the Works. If the Engineer’s Instruction constitutes a Variation, then it Read more…
The award of the construction contract agreements on capital construction projects represents one of the major milestones of the project life cycle as it entails major financial commitment on part of the project owner. The construction cost of a capital project could usually represent 90% of the total investment needed Read more…
