There are certain special contracts which are used in some specific situations. They are:
1) Turn-key contract
2) Package contract
3) Negotiated contract
4) Continuing contract
5) Running contract
2) Package contract
3) Negotiated contract
4) Continuing contract
5) Running contract
1) TURN-KEY CONTRACT:
In this type of contract, the main contractor plays a vital role. He takes up all the work of various departments like electrical, mechanical, etc by directing his sub contractors.
The main contractor bears the sole responsibility of all construction works in the project.
In this type of contract, the main contractor plays a vital role. He takes up all the work of various departments like electrical, mechanical, etc by directing his sub contractors.
The main contractor bears the sole responsibility of all construction works in the project.
2) Package contract: The prior approval of the design and technical aspects have to be taken from the owner by the majn contractor so as to safeguard the owners interest.
3) Negotiated contract:It involves discussions between the owner and the main contractor for finalisation of the project and to arrive detailed specifications of the project.
4) Continuing contract:On the basis of agreed terms and conditions of the existing contract, new or additional contracts are given to the contractor by the owner.
5) Running Contract:In this contract the contract price is not fixed and it is calculated by the actual goods supplied and services rendered.
Civil Scholar is a Blog by Aravind Samala on Construction, Environment, Technology, Trends and Innovation.