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The Joint Contracts Tribunal have published a completely new standard form of contract for large clients on major construction projects. The main purpose of the form is to meet the particular needs of large commercial clients who do not themselves intend to occupy the premises, as well as property owners and developers (such as hoteliers and supermarkets) who regularly build.
The Major Project Form is the first JCT form specifically to provide for third party rights. It caters for various levels of design input on the part of client and contractor and incorporates a design submission procedure.
Other key provisions are those dealing with: no retention, acceleration of project, bonus for early completion, cost savings and value improvements, the client's pre-appointed consultants, and mediation.
This new book will look at the contract clause by clause, with full text of the contract itself, and will examine the background law, highlighting practical issues.