What is the GC21 contract?
GC21 Edition 2 standard form The GC21 standard form is recommended to be used for construction contracts valued at more than $2 million. However, agencies should use it for complex and high-risk contracts valued over $1 million, where appropriate to meet special circumstances or requirements.
What does GC21 mean?
GC21 (Edition 2) General Conditions of Contract. – Contract framework. – Carrying out the Works. – Claim and Issue resolution. – Termination.
What is the difference between AS2124 and AS4000?
In an AS4000, a superintendent is required to authorise any liquidated damages by the principal. In contrast, an AS2124 contract makes the contractor automatically liable for liquidated damages if there is a failure to reach practical completion by the date for completion.
What is AS4000 contract?
AS 4000 is a type of construction contract used for construction projects in Australia. As it is considered to only be the general conditions of the contract, AS 4000 is intended to be used ancillary to a formal instrument of agreement or certain documentation.
What is AS2124?
AS 2124, also known as the Australian Standard AS 2124-1992 General Conditions of Contract, is a commonly used contract in the construction industry. To use this contract, you will incur a licence fee. AS 2124 is the preferred legal document by various governmental departments.
What are conditions of contract for construction?
In this conditions of contract in construction specified that, All construction materials given to contractor is a absolute property of the government and shall not on any account be removed from the site of the work and shall at all times be open to inspection by the engineer-in-charge or his authorized persons.
What is the purpose of the general conditions of the contract?
The general conditions are an integral part of the contract for construction for a large project and they are incorporated by reference into the owner/contractor agreement. They set forth the rights, responsibilities, and relationships of the owner, contractor, and architect.
Is as2124 construct only?
The Australian Standard AS 2124-1992 General Conditions of Contract remains a widely used form of construct only head contract, despite it having been succeeded by AS 4000-1997 and now being almost 30 years old.
What is the as4000 1997 contract?
AS 4000, more formally known as the Australian Standard AS 4000-1997 General Conditions of Contract, is one of the most widely used forms of head contract for construction projects in Australia.
What is a latent condition?
Latent conditions are physical conditions on, underlying or adjacent to the site that could not be identified by the contractor by reasonable observations or investigations of the site or the site information provided in the tender documentation at the time that the tender for the works was being prepared.
Is as 4000 a construct only contract?
There are a number of Australian standard Construct Only contracts, the most popular examples being: AS4000-1997.