Contracts for Construction: In-depth

Summary

This topic explains the process of managing construction contracts from the tender process and the different types of contract, to appointing contractors and what to do if something goes wrong.

In Practice

Purpose of a Contract

The purpose of a contract is to:

  • set out the obligations and responsibilities of the parties involved

  • outline the specific terms and conditions agreed by the parties in a clear and unambiguous manner.

The four essential elements in the creation of a contract are the:

  • offer

  • acceptance

  • consideration (payment)

  • intention to create a legal relationship.

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Contracts for Construction