Contract Practice - HARD

Question 1

What does FIDIC stand for?

Answer 1

International Federation of Consulting Engineers

Question 2

What are some examples of what you would see in Recitals?

Answer 2

Factual details about the works

1. Project Scope and Location
2. Employers Requirements & Contractir Proposals
3. Sections? Framework Agreement?

Question 3

What is CIS?

Answer 3

Construction Industry Scheme

Question 4

What are some examples of what you would see in Articles?

Answer 4

1. Contract Sum
2. Principle Designer / Principle Contractor
3. Employer’s Agent / Contract Administrator

Question 5

What are unliquidated damages?

Answer 5

Money to be paid for a breach of contract where the amount was not pre-agreed and is instead assessed by a court after the fact

Question 6

What is a waiver of subrogation?

Answer 6

A legal agreement that prevents an insurance company from pursuing a third party for payment after it has already paid a claim to its policyholder

Question 7

What are latent defects?

Answer 7

Defects that manifest over time and are not obvious at the time of practical completion

Question 8

What are patent defects?

Answer 8

Defects within works obvious at the time of practical completion

Question 9

What is the difference between a defect and a snag?

Answer 9

A defect is a serious issue affecting the functionality, safety, or structure of a building, while a snag is a minor cosmetic imperfection that doesn’t impact safety or performance