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New JCT contracts form is clearer - and cuts retentions

By: Language: English Series: Construction News ; (6940) 27 October 2005, 31(1)Publication details: 2005Subject(s): Summary: Examines the changes in the new suite of JCT conditions of contract. The most important change allows the user to opt either for a third party rights provision or a collateral warranty. Other changes include the deletion of references to nominated sub-contractors, and a reduction in the number of relevant events justifying an extension of time. The wording of the new forms is clearer and more accessible.

Examines the changes in the new suite of JCT conditions of contract. The most important change allows the user to opt either for a third party rights provision or a collateral warranty. Other changes include the deletion of references to nominated sub-contractors, and a reduction in the number of relevant events justifying an extension of time. The wording of the new forms is clearer and more accessible.