Contract Practice - Level 1 Flashcards
1
Q
What key function does a contract perform on a construction project?
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2
Q
What is a contract?
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3
Q
Define express terms?
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4
Q
Define implied terms?
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5
Q
What six conditions need to be met for a contract to be in place?
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6
Q
What are the main suites of construction contracts?
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7
Q
What is tort?
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8
Q
What are the influences which will affect contract selection?
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9
Q
Can you name three standard forms of contracts that can be used on a construction project?
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10
Q
What do you understand about the following forms of contract; FIDIC, JCT, etc …..
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11
Q
What does JCT stand for?
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12
Q
Name the key components of the JCT contract suite.
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13
Q
When was the JCT contract suite last updated?
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14
Q
Tell me about some of the key changes that were made.
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15
Q
How was the JCT contract suite modernised through the last update?
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16
Q
How does JCT facilitate electronic working?
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17
Q
How does the JCT work alongside the Construction Playbook?
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18
Q
How has the JCT contract suite incorporated diversity and inclusion?
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19
Q
What is the JCT Fluctuations Hub used for?
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20
Q
Explain the JCT Target Cost Contract to me.
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21
Q
What form of NEC contract might the Target Cost Contract be a good alternative for?
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22
Q
What are the main parts of the JCT contracts?
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23
Q
What are the JCT schedules?
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24
Q
How are relevant events and relevant matters dealt with under NEC?
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25
How does NEC deal with loss and expense?
26
What types of insurance are required under JCT?
27
How is fitness for purpose dealt with under JCT DB / CDP?
28
What is the contractor’s design liability under JCT contracts (for CDP elements)?
29
What are the differences in procurement between JCT Standard Form and JCT with Contractor's Design?
30
When would you use a JCT IC or MW contract?
31
Can benefits be assigned under JCT contracts?
32
When and why would you use each?
33
Explain the role of main sub and package contracts from the standard suites you are aware of.
34
In a contract you have used explain the following; roles and responsibilities of the parties
35
What client specific considerations have you taken into account when selecting a contract type?
36
What insurance provisions are in the JCT and NEC standard forms of contract?
37
What is a contractor’s all risk insurance or contract works insurance?
38
What do you understand by insurance in joint names?
39
What is a collateral warranty?
40
What is your understanding of what a letter of intent is?
41
What is a comfort letter/consent to spend/recognition of contract?
42
When might you use advance payments?
43
What is the final account?
44
Who prepares the final account in a JCT form of contract?
45
Who prepares the final account in the NEC4 form of contract?
46
What is the purpose of a final account?
47
On the issue of the final account what are the relevant time periods in a JCT form of contract?
48
When must the final certificate be issued?
49
Tell me two of the information or statements that must be contained in the final certificate.
50
What are the usual constituents of a final account?
51
What is released to the contractor in the final certificate?
52
What are the usual constituents of a final account?
53
What are the four elements of a valid contract?
54
What third party rights might be included in a contract?
55
How does dispute resolution work in a contract you have experience of?
56
What is common law?
57
What do you understand by consideration in contract?
58
What do you understand by invitation to treat in contract?
59
How is the JCT form of contract structured?
60
How is the NEC form of contract typically structured?
61
What is the difference between a contract executed under seal and underhand?
62
When selecting a form of contract what factors do you consider?
63
What alternative forms of contract are there available and what would influence your recommendation of a form of contract?
64
Design and Build contracts - what are the 3 main forms of this contract?
65
Name 3 factors you think make this form of contract valid for your work?
66
Apart from JCT D&B what other forms of D&B contracts are there?
67
Have you ever considered a NEC D&B contract?
68
Within a JCT SBC when and why would you use a Schedule 2 quotation?
69
What are the timescales in a Schedule 2 quotation?
70
If the contractor on a D&B contract fails to issue the final account within the due period what action should you advise your client to take?
71
If you had to explain the differences to your client between sectional completion and partial possession can you provide an example of the differences under a JCT D&B contract?
72
How do sectional completion partial completion and beneficial use differ?
73
Define each of the following: sectional completion partial completion and beneficial use differ?
74
If you client wanted to place furniture in the completed parts of a project which would you recommend sectional completion or partial possession?
75
What are liquidated damages?
76
What is your understanding of retention and bonds?
77
What is your understanding of early possession?
78
What contractual weight does a practical completion certificate carry in a JCT contract?
79
Tell me about some of the insurances a subcontractor would need if they were responsible for a part of the design work.
80
What do you understand by a parent company guarantee?
81
When might it be used?
82
What is your understanding of sectional completion?
83
What is your understanding of performance bond?
84
When might it be used?
85
What is you understanding of limitation of liability?
86
Talk me through how you’ve ensured insurances from subcontractors were at the correct level.
87
What do you understand by relevant event in a JCT form of contract?
88
What do you understand by compensation event in a NEC form of contract?
89
In the NEC form of contract talk me through five things that can lead to a compensation event.
90
In the NEC form of contract when can the completion date be adjusted?
91
In the NEC form of contract what is a defined cost?
92
In the NEC form of contract what is a disallowable cost?
93
When were changes to NEC4 last made?
94
What changes were made?
95
How are NEC contracts categorised by different alternative pricing options?
96
What are these pricing options?
97
How is BIM integrated in a contract you are familiar with?
98
Explain Secondary Option X7.
99
What issue was raised by Triple Point Technology v PTT Public Co?
100
How was Secondary Option Y(UK)2 updated to reflect the judgement in Rochford Construction v Kilhan Construction?
101
How were Secondary Option X22 and Secondary Option Y(UK) 1 amended?
102
When are NEC compensation events not time barred?
103
In a NEC contract how would you detail if the contract is to be D&B?
104
What does the works information is included in a NEC contract?
105
What are the different types of FIDIC contract and how do they reflect different risk profiles?
106
What is your understanding of the difference between delay and disruption?
107
When does financial management of a project typically take place?
108
Explain what happens during the post contract phase.
109
How do you implement and manage cost control procedures and reporting within the scope of a contract?
110
What contract legislation are you aware of?
111
Explain how contracts may deal with contractor designed works.
112
Explain your understanding of contracts and sub-contracting.
113
What payments provisions and change procedures are you aware of?
114
What factors affect the choice of security in a contract?
115
What insurances are you aware of?
116
What is novation and assignment?
117
What is a collateral warranty?
118
What are the three ways that benefits can be transferred under JCT contracts?
119
Who might want a collateral warranty?
120
How are they requested?
121
What are the common clauses / terms in collateral warranties?
122
What is the difference between a bond and collateral warranty?
123
With any D&B contract there is a high probability that collateral warranties will apply where would you expect to see them and between which parties?
124
Are there any alternatives to collateral warranties?
125
Explain your understanding of retention.
126
What is the purpose of retention?
127
What items do not have retention taken on them?
128
Who receives the interest accruing on retention money?
129
When is the retention released to the contractor?
130
What if the contract sum increases?
131
Explain your understanding of liquidated and delay damages.
132
Explain your understanding of claims for extensions of time acceleration and loss and expense.
133
What is early possession?
134
Explain your understanding of phasing.
135
How can a contract be terminated?
136
Explain the impact of insolvency on contracts.
137
How do you deal with final accounts?
138
What is a pre-construction services agreement (PCSA)?
139
When are pre-construction services usually used?
140
What should be taken into account in the wording of a PCSA?
141
What might the pitfalls be?
142
When would you recommend the use of a PCSA?
143
How does a PCSA differ to a LOI?
144
Explain your understanding of defects and rectification.
145
How has Covid-19 affected a contract you have worked on?
146
Explain the differences between cost reimbursement and lump sum contracts.
147
Explain a key principle of the new RICS Guidance Note Subcontracting (1st Edition).
148
What is a subcontractor defined as within this?
149
What does the Guidance Note not cover?
150
If an architect develops a design to a certain stage and the appointed D&B contractor then wants to use the design and develop further what do they need to do?
151
Explain in this scenario xxx
152
What is novation?
153
How does novation affect the employer’s rights?
154
What are the advantages of novation?
155
Are there any disadvantages of novation?
156
Do you have novation on traditional contracts?
157
What measures can be taken to effectively control costs during the construction phase of a project?
158
How can you control costs to keep a job under budget?
159
How do NEC and JCT manage change control?
160
Why is cash flow important?
161
How does a cash flow help a company remain solvent?
162
What is risk allocation?
163
What do you understand by risk management?
164
What is a risk management strategy?
165
What are the benefits of risk management?
166
What are the stages of risk management?
167
Why is risk management needed in construction?
168
What is the risk response?
169
How is risk quantified?
170
What are risk management techniques?
171
How do you report or monitor risks?
172
What are preliminaries?
173
What are preambles?
174
What would you include in a work schedule?
175
What are the three main standard forms of construction contract?
176
What is the role of contract administrator in each of these?
177
How do cost complexity and time impact selection of JCT contract?
178
How does quality impact the contract selection?
179
What are the key differences between the JCT forms of contract?
180
Why are valuing change and valuations crucial for a QS?
181
What other contract procedures must the QS be aware of?
182
What are the rules for valuing change?
