Contract Administration Advancing
on Office Project in Tunbridge Wells

Following on from our newsfeed of 26th September 2023 DMP have now appointed a local Main Contractor to commence the works at The Forge, Tunbridge Wells.

The contractor is due to complete the significant internal alterations and new front elevational treatments over a 5 month period.

DMP have prepared the JCT Intermediate Contract and are monitoring progress on a weekly basis in order to keep our long standing client informed of every step of the build.

DMP _ Tunbridge Wells _ Contract Administration _ Project Management _ Commercial Surveyors

DMP _ Tunbridge Wells _ Contract Administration _ Project Management _ Commercial Surveyors DMP _ Tunbridge Wells _ Contract Administration _ Project Management _ Commercial Surveyors

 

What is a JCT Intermediate Contract?

It is important a JCT Contract is prepared between the parties as a contract establishes a framework that outlines the obligations of the employer, contractor, and subcontractors, reducing the potential for disputes and misunderstandings.

DMP highly recommend the use of JCT Contract on your project as the standardisation saves time and minimises costs compared from drafting a contract from scratch.

The Joint Contracts Tribunal (JCT) was established in the 1930s, with new Contract editions in 1939, 1963, 1980 and further revised editions in 1998, 2005 and 2011. The most recent suite of Contract is the 2016 version.

AT DMP were generally administer Minor Works Contracts, Intermediate Form of Contract and Design and Build Contracts. A significant benefit of the JCT Contract is to avoid up-front payments from clients to contractors. Instead the contractor is only paid once completed works has been certified by a competent and independent third party, the contract administrator. A interim certificate for payment is prepared and issued based on the agreed completed works either by itemised works or percentage complete in order for the contractor can issue invoice for payment.

The JCT encourages retention of a agreed percentage usually 5% of the contract sum until the works are completed. 2.5% retention is released once the minor defects or snagging are complete at the end of the job with the remainder of the 2.5% released after an agreed defects period.

We look forward to monitoring the works and handing over the project to the client in order from them to expand from their existing adjoining premises. 

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01892 534455
dmp@dmp-llp.co.uk