Performance security Definition

Case studies

"The forms and precedents section is essential so that I can quickly and easily look up provisions to include in templates or bespoke project contracts."

RWE

Access all documents on Performance security

GET ACCESS NOW

GLOSSARY

Published by a ��˾��ҹ�� Construction expert

What does Performance security mean?

A form of security or performance bond required from the contractor under FIDIC forms of contract to ensure proper performance.

Speed up all aspects of your legal work with tools that help you to work faster and smarter. Win cases, close deals and grow your business–all whilst saving time and reducing risk.

FIDIC contracts 2017—price

FIDIC contracts 2017—price Price is a key consideration of any construction contract. The FIDIC forms of contract follow two different methods of determining the price. The Red and Pink Books are remeasurement contracts, whereas the Yellow, Silver and Gold Books are lump sum fixed price contracts. This Practice Note looks at how the Contract Price in the 2017 editions of the FIDIC contracts (Red, Yellow and Silver Books) is calculated, and the ways in which it can be adjusted. For a review of price in the 1999 editions of the Red, Yellow and Silver Books, and in the Pink and Gold Books, see Practice Note: FIDIC contracts (pre-2017 editions)—price. Remeasurement In remeasurement contracts, an initial estimate of the value of the works is determined by measuring the quantity of each work item (which will be set out in a document referred to as a bill of quantities) and multiplying it by the agreed rate for that particular item. This calculation is then made again at the end...

JCT contracts 2016—what's changed? [Archived]

JCT contracts 2016—what's changed? [Archived] ARCHIVED: This Practice Note has been archived and is not maintained. This Practice Note brings together our content on the changes made in the 2016 editions of the Joint Contracts Tribunal (JCT) standard form construction contracts. Publication of the 2016 editions The 2016 editions of the JCT standard form contracts were published as follows: Date Contracts published 15 June 2016 Minor Works Building Contract family (MW, MWD and MWSub/D) 20 July 2016 Short Form of Sub-Contract (ShortSub)Sub-subcontract (SubSub) 22 September 2016 Design and Build family (DB, DBSub/A and DBSub/C) 31 October 2016 Standard Building Contract family (SBC/Q, SBC/AQ, SBC/XQ, SBCSub/A, SBCSub/C, SBCSub/D/A and SBCSub/D/C) 21 November 2016 Collateral Warranties (CWa/F, CWa/P&T, SCWa/E, SCWa/F and SCWa/P&T) 7 December 2016 Intermediate Building Contract family (IC, ICD, ICSub/A, ICSub/C, ICSub/D/A, ICSub/D/C, ICSub/NAM, ICSub/NAM/C, ICSub/NAM/E) 30 March 2017 Constructing Excellence Contract (CE)Consultancy Agreement (Public Sector) (CA)Framework Agreement (FA)Major Project Construction Contract family (MP and MPSub)Measured Term Contract (MTC)Pre-Construction Services Agreement (PCSA and PCSA/SP)Prime Cost...

Discover our 6 Practice Notes on Performance security

Precedent s 278 agreement

Precedent s 278 agreement DATE [insert date] Parties 1 [insert name] of [insert address] (the ‘Council’) 2 [insert name] of [insert address] [incorporated in England and Wales with company registration number [insert number]] (the ‘Developer’) 3 [[insert name] of [insert address] [incorporated in England and Wales with company registration number [insert number]] (the ‘Mortgagee’)] 1 Definitions 1980 Act • the Highways Act 1980 1990 Act • the Town and Country Planning Act 1990 [Bond • a bond substantially in the form at Schedule 1 from a bank or other institution first approved in writing by the Council to secure the obligations to carry out and complete the Works] [Charge • the charge appearing at entry [insert entry number] on the charges register of title number [title number] at [insert date of official copy entries]] Commencement • the earliest date upon which the Works are commenced and the term ‘Commence’ shall be construed accordingly Completion Certificate • the certificate issued by the Proper Officer under clause [insert...

Precedent s 38 agreement

Precedent s 38 agreement DATE [date] Parties 1 [insert name] of [insert address] (the ‘Council’) 2 [insert name] of [insert address] [incorporated in England and Wales with company registration number [insert number]] (the ‘Developer’) 3 [[insert name] of [insert address] [incorporated in England and Wales with company registration number [insert number]] (the ‘Mortgagee’)] 1 Definitions 1980 Act • the Highways Act 1980; 1990 Act • the Town and Country Planning Act 1990; 1991 Act • the New Roads and Street Works Act 1991; [Bond • a bond substantially in the form at Schedule 1 from a bank or other institution first approved in writing by the Council to secure the obligations to carry out and complete the Works;] [Charge • the charge appearing at entry [insert entry number] on the charges register of title number [title number] at [insert date of official copy entries];] Commencement • the earliest date upon which the Works are commenced and the term ‘Commence’ shall be construed accordingly; Completion Certificate •...

Dive into our 2 Precedents related to Performance security

Top

Trial

��˾��ҹ��

GLOSSARY