Fidic

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A brief detailed description of the project

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Front 2

A cost effective approach to managing project delivery

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A freely convertible currency

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A greater effort may be required for a smaller dollar value project

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A page limitation is suggested to keep the presentations to a manageable size

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A plan for accomplishment

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A request for qualification

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A significant advantage of using a CM

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A suitable replacement person shall be appointed

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A wider range of fees and charges are involved. One potential difficulty

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Absence of disapproval

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Access to a pool of assets in a particular market sector

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Accordingly it is difficult for the owner to verify that it is receiving the best value for its money

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Advice that is unaffected by any potential conflict of interest

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After giving 56 days' prior notice to the Contractor

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After receipt of permission

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Agency construction management consist of a distinct set of services

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Aid in the procurement of a contractor and often inspect the work of contractor for compliance with specification

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All major events and activities

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All members commit to conduct themselves and their practice of construction and program management

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All works not mentioned in the Contract but which may be inferred to be necessary

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Allows the funds to operate with less of their assets in cash than authorized unit trusts

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Along with a discussion of some of the important points

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Also important that the committee be free from any conflict of interest

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Alternative methods promise improvements over the traditional system in terms of cost and reduction in disputes

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Alternative project delivery methods have evolved to fit particular projects and client needs

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Although the property industry has taken steps to streamline transactions

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Amicable settlement has not been reached,

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Among the chief disadvantages of the traditional system are

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An agreed profit rate

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An amount of money

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An initial phase of construction

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An owner embarking on a construction project

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An owner has several areas of concern when embarking on a construction program

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And a third group is keeping their position under review and may convert later

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And by referring to the rents achieved in the open market for comparable properties

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And fit for the purposes for which they are intended as defined in the Contract

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And is maintained by most firms

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And maintained consistent with the industry practice

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And make a judgment as to which firms appear qualified to perform the work

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And may at any time revoke any such delegation

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And may guide the owner in determining the appropriate project delivery system

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And that suitable arrangements are made for all necessary welfare and hygiene requirements

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And the manager is entitled to defer redemptions by up to six months

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And the suspension is not due to a cause attributable to the

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And then growth, leading to shortage of supply and so on

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And to enhance their returns

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Any alteration

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Any extension of time to which the Contractor is entitled

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Any extension of time to which the Contractor is entitled

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Any requisite approval shall be deemed to have been given by the Employer

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Any such delegation or revocation shall be in writing

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Appropriate professional, having, the experience and capability

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Approval means that the investment trust is exempted from tax on capital gains

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Are becoming more common

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Are encountered by the Contractor

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Are expected to form a significant sector in their own right

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Are procured on the basis an objective evaluation of the qualifications of competing firms

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As a percentage of the gross assets of a fund, even if the fund is geared

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As an owner it is necessary to chose

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As may be necessary

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As mutually explanatory of one another

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As noted earlier, a significant part of the return from commercial property comes as income

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As previously mentioned

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As soon as is reasonably possible

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As to proper level of staffing for particular tasks that constitute the CM's scope of services

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As to risks, contingencies and all other circumstances which may influence or affect the Tender

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At all reasonable times

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At the Employer's convenience, at any time

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At the other end of the spectrum

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At the outset of the CM selection process

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At the request and cost of the Employer

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Attractiveness of its location can change over the holding period, for better or worse

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Authority to Delegate

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Bankers also lend to a wide range of investors who want to leverage their equity with debt

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Based on the period to the expiry of the lease, but ignoring break options

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Because the yields offer a margin over their finance costs

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Beginning in the early program planning stages

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Break options can have a positive impact

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But differs in composition from the annual index

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But it provides information about the functions typically provided by a CM

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But sometimes not all the pieces of the puzzle are available

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But the individual is treated as if they have already paid tax at 20% on it

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But they exhibit high volatility

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By a particular deadline

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By describing specific methods by which a task is to be performed

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By spreading their investment over a range of properties in different sectors and locations

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By sufficient persons having adequate knowledge of the operations to be carried

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By taking some responsibility for design errors discovered during construction

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Can make a significant difference to its value

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Can realize saving by directly procuring major material items such as major mechanical equipment avoiding contractor mark-ups

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Capital gains tax is charged on disposals of shares

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Certain decisions should be made regarding the concept of the project

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Certain kinds of businesses

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Certain tasks and responsibilities place the CM in a legal agent relationship with the owner

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Chief among them are the opportunity to incorporate a contractor's perspective and input to planning decision

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Clearly there is no one right project delivery method for a given project

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CM applies and integrates comprehensive project controls to manage the critical issues of time, cost, and scope

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CM converts to the legal equivalent of a contractor once a price is established for the completion of the work

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CM has advised the owner regarding the achievability of the proposed schedule and associated project cost

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CM is typically placed in a legal position similar to that of a contractor entering into a traditional agreement

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CM usually helps the owner identify which delivery system is the best for the project

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CM will assume additional obligations and will undertake construction responsibilities during the construction phase

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CMs apply and integrate comprehensive project controls to manage the critical issues

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Collective investment schemes offering indirect exposure to UK property

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Combine them into a desired and appropriate contracting format

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Commercial property has produced a much higher return per unit of risk

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Commercial property investors need a standard yardstick to measure the returns

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Commercial property leases are not providing enough choice and flexibility for tenants

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Commercial property tenants may have a statutory right to renew it

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Comparisons of actual and planned progress

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Complex responsibilities involved in the management of major projects

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Compliance with Statutes, Regulations and Laws

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Compliance with the quality assurance system shall not relieve the Contractor of his duties

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Front 115

Confusion can be inevitable

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Front 116

Consideration of material, systems and process alternatives

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Front 117

Construction expertise

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Construction management comes in two general forms

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Construction management services may be tailored to satisfy the needs of the novice or sophisticated owner

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Front 120

Construction management standard of practice

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Contract administration procedure

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Contractor may terminate his employment

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Contractor shall keep the Site free from all unnecessary obstruction

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Contractor shall provide and maintain all necessary accommodation and welfare facilities for his

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Contractor's Equipment as required by him for the purpose of fulfilling his obligations.

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Front 126

Corrective action taken when most effective

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Front 127

Cost risk is the risk of being able to do something within a given budget limit

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Front 128

Cost" means all expenditure properly incurred (or to be incurred) by the Contractor

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Critical component

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Distributing most of their income to shareholders through dividends

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Front 131

Decision with regard to the project organization

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Front 132

Decisions made and approaches discussed at this time will ultimately affect the success of failure of the project

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Front 133

Deductions shall be made at the amortization rate of one quarter (25%) of the amount of all Interim any amounts to be added and deducted for the advance payments

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Front 134

Define the relationship of the parties

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Front 135

Delays arose due to coordination issues

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Front 136

Depending on any double tax treaty

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Front 137

Depending on the source of profits from which they arise

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Front 138

Design as presented is clear to the contractor, poses no construction conflicts and is economically feasible to build

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Front 139

Design process interaction

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Design program successfully fulfill the needs of the owner

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Front 141

Details of all procedures

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Front 142

Development of a CM budget grows out of this scope and is the first step in the detailed planning of the project

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Direct expenses are the necessary and ordinary expenses associated with the CM's performance

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Direct ownership of commercial property gives investors opportunities to manage their assets actively

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Do not pay corporation tax on income or capital gains

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Does it have to be done quickly?

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Front 147

Duties and Authority

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Duties, obligations or responsibilities under the Contract

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Front 149

Each individual on the committee should understand how the selection process will be structured

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Front 150

Each item of Plant and Materials shall become the property of the Employer

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Front 151

Early development of the scope of the project provides information for the establishment of a baseline budget

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Front 152

Effective project cost controls

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Front 153

Either by retaining the agent to act on the purchase or simply by paying an introductory fee.

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Front 154

Either in terms of generating revenue from facility

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Front 155

Either party

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Employed by the owner in support of the project

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Front 157

Employer shall have no authority to relieve the Contractor of any of his duties

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Front 158

Employer shall immediately rectify any shortage

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Front 159

Employer shall issue any necessary clarification or instruction to the Contractor

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Front 160

Employer’s Entitlement to Terminate

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Front 161

Encompasses a range of services provided by a CM on behalf of an owner

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Front 162

Enhanced control of the scope of the work

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Front 163

Ensuring adequate levels of oversight and communication

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Front 164

Evaluation criteria stated in the RFP

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Even over 36 years, the longest period for which credible data is available

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Except as expressly stated in the Conditions of Contract

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Except as otherwise stated in the Contract

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Front 168

Except to the extent that the prior consent of the Employer's shall have been obtained:

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Execute a Contract Agreement

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Front 170

Existing staff to provide a comprehensive set of skills to accomplish the project

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Front 171

Fails to conform with any provisions of the Contract

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Financial constrains

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First, an investment in a single building is likely to be more risky in general than investment in a portfolio of properties

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Front 174

Fixed price contracts are almost always based on a completed design

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Following is a list of pertinent available publication

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For an owner the primary benefit is the simplicity of having one party responsible for the development of the project

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For any necessary government consent to

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Front 178

For consent the name and particulars of the person the Contractor proposes to appoint.

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For example by increasing the lease length or increasing the rent payable

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For financial advisers who wish to find out more about the quoted commercial property investment market

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Front 181

For the fulfillment of the terms of the Contract

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For the owner the wealth of choices can be both good and bad

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For the safe, reliable and efficient operation of the Works

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For those who invest in a range of different assets, property offers diversification benefits

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For which the owner does not have an adequate capacity to manage the project effectively

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Fully develop sufficient expertise to embark upon a construction program

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General Obligations

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Grows out of this scope

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Have been developed to satisfy the needs of owners and projects

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Have standing staffs to manage their project

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Having jurisdiction over the Works

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He shall consult with the Contractor in an endeavor to reach agreement

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Here, the value uses his or her expert knowledge and experience of the market to make a judgment.

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How easily tenants can dispose of properties they no longer need

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How it can enhance the success of a project

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How much assistance will be the owner need in the definition and planning of the project with respect to quality?

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How much influence will the use have over the design and consideration?

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How much of the project will be fully defined by the owner?

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How well does the owner understand the cost impacts of decisions made in the course of design?

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How well does the owner understand the design process?

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Front 201

However the advantages of the system are offset by a significant loss of control and involvement by the stakeholders

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However, certain overseas investors are entitled to reclaim some of this tax under international double tax treaties

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However, other factors besides returns and diversification can influence their choice of the UK

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I will assign staff to projects in accordance with their qualifications

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I will avoid actions which promote my own self-interest at the expense of the profession

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I will develop my professional reputation on the basis of my direct experience and service provided

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I will engage in fair competition for assignments

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I will only make statements that are truthful

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I will serve my clients with honesty integrity candor and objectivity

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Front 210

I will uphold the standards of the construction management profession with honor and dignity

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Front 211

Identifies actions to be taken in the event of deviance from the plan

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If a building is let to a good quality tenant for a long period then the rental income is assured

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If a dispute arises between the Employer and the Contractor in connection with, or arising out of

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If agreement is not achieved

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If appropriate, the Contractor shall then appoint a suitable replacement person.

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Front 216

If requested by the other party

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Front 217

If such obligation extends beyond the expiry of the Contract Period

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Front 218

If the Contract Price is expressed in Local Currency

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Front 219

If the Contractor fails to remove,

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If the Contractor incurs additional Cost as a result of any unreasonable delay by the.

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Front 221

If the Contractor incurs Cost from failure on the part of the

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Front 222

If the Contractor suffers delay

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If the Contractor wishes to modify any design or document which has previously been submitted

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If the Employer has taken over risk and

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Front 225

If the Employer's Representative does not attend at the time and place agreed

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If the owner and the most qualified CM are not able to reach agreement on price and scope

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If the owner is aware that its requirements may change considerably during the project

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If the progress of the Works does not conform to the program

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If there is an ambiguity or discrepancy in the documents

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If, at any time, the Contractor's actual progress falls behind the program

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Front 231

Implications of changes to them

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Front 232

Improves the owner's confidence in the success of the project

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Front 233

In accordance with the provisions of the Contract

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Front 234

In addition to fees that is payable to the manager

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Front 235

In addition, but less frequently, a rent review may state the exact properties to be used as comparables.

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In addition, REITs will suffer tax penalties if they either

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In addition, which may result in advantageous changes to the project

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In applying for permits which are required for any part of the Works

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In contrast to some other project participants the ACM has no vested financial interest in the project

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Front 240

In order to ensure that there is no conflict with the work of other Subcontractors

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Front 241

In order to provide a reasonable and enforceable scope definition to the contractor

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Front 242

In six copies

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Front 243

In some cases, more than one respondent may appear qualified and interviews or oral presentation may be the only appropriate method to differentiate between the top respondents

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In support of the owner's decisions in the implementation of the project

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In the early 1960

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In the most cons-effective way, both in terms of initial and life-cycle costs.

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In the most timely manner

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In their respective trades or occupations

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Including details of any hazardous incidents and activities relating to environmental aspects

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Including overhead and similar charges, but does not include profit

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Including those who think their business model is strong enough

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Front 252

Income can flow directly to shareholders, free of tax. Shareholders are then taxed according to their own circumstances

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Income from non-property investment activities is taxed at the usual corporate rate of 30%

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Incorporated in the Permanent Works

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Independent of the chosen contract form

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Individual investors are increasingly interested in commercial

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Inheritance tax will be relevant to most of the investment vehicles

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Front 258

Interests and stake holding can become similar to the traditional design-build system

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Interests other than those of the owner

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Interim Payment Certificate

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Front 261

Investing in a portfolio of properties is, generally speaking, likely to be less risky than concentrating all one’s capital

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Investors can mitigate the impact of a downturn in returns

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Investors often cite a lack of liquidity as a key disadvantage of commercial property

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Front 264

Investors will often share an element of risk with a developer by committing to acquire a building

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Irrespective of any approval or consent by the Employer's Representative

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Is a distinct set of services that can be applied

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Is a long established and well respected trade association, which has achieved a considerable degree of success

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Is designed to achieve the satisfactory completion of a construction project from conception to occupancy

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Is largely exempt from corporation tax

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Is one of the leading promoters

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Front 271

Is one of the most respected and high-profile global ‘standards and membership’ organizations

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Front 272

Is the placement of risk in the hands of those who are best equipped to manage it?

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Front 273

Is usually a document which describes in general the qualifications of a firm to perform the work

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Front 274

Issues of risk are closely tied to schedule and budget issues

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Front 275

It involves the expenditure of a large sum of capital

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Front 276

It is also possible to form designated SIPP syndicates to buy property via a SIPP. Specialist advice should be obtained for this

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It is an intensive process demanding constant attention in order to achieve success

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Front 278

It is desirable

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Front 279

It is important to understand that property indices are based on valuations and not transaction prices

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Front 280

It is not easy to classify the various products according to their inherent level of risk

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It is the most common approach

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Front 282

It may be appropriate to retain a consultant for the selection process

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Front 283

Its mission is to sustain and promote the interests of all those who own and invest in property in the UK

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Front 284

Joint and Several Liability

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Front 285

Jointly and severally liable to the Employer

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Front 286

Key consideration

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Land acquisition

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Front 288

Like other collective investments, property funds charge fees

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Front 289

Limiting the amount of money to be paid

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Local Currency

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Front 291

Loss or perceived loss of control leads to fear of a negative outcome

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Front 292

Make them available for the Contract.

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Front 293

Many of the rules are currently being reviewed and could change

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Front 294

Many owners make some effort to pre-qualify contractors

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Front 295

Many selection committees also find it appropriate to ask bidders for separate financial proposals

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Front 296

May also make buildings less attractive over time

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May diminish the appeal of existing shops nearby

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Front 298

Mentioned

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Front 299

Modification to the Employer's Requirements

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Front 300

Monthly progress reports

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Front 301

Most effective use of available funds

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Front 302

Most swaps have featured the total return on all property

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Front 303

Most will be considering indirect exposure

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Front 304

National or state statute, ordinance or law,

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Front 305

Nature of market information – for example, the seller may know more than the buyer, or vice versa

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Front 306

Nature this system causes its primary disadvantages

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Front 307

Necessary for compliance with this Clause

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Front 308

Negotiating the purchase of properties

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Front 309

No significant alteration to the program

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Front 310

No work shall be carried out on the Site outside the normal working hours stated in the

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Front 311

Obviously the more complex and costly a project the greater the need for professional management and advice

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Front 312

Of a similar nature

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Front 313

Offers the owner a significant amount of control over the end product

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Front 314

Often investors’ equity will be geared through use of debt with the underlying property assets acting as security for a loan

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Front 315

On all projects the ability to react to changing circumstances is critically important

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Front 316

One mitigating approach

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Front 317

One of the agreed systems

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Front 318

Or arises from any obligation of the Contractor

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Front 319

Or either of them as appropriate.

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Front 320

Or specific changes in attitude towards property

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Front 321

Or Temporary Works no longer required.

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Front 322

Other Definitions

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Front 323

Other owners may not have the organizational resources or expertise on board

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Front 324

Other systems often give rise to disputes among various project participants

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Front 325

Outperformed equities, gilts and cash deposits over the last five and ten years

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Front 326

Over the last seven years the auction market has grown steadily, driven by the growing demand

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Over the life of the project regardless the

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Owner is required to have sufficient staff resources to fully define the project or be willing to allow another entity

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Front 329

Owner must ensure

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Front 330

Owner should strive to assign risks to those parties that exercise control over those aspects

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Front 331

Owner to provide a comprehensive set of resources and skills to accomplish the project

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Front 332

Owner's control over the project's scope

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Front 333

Owners should keep in mind that

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Front 334

Particularly in assumptions

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Parties who bear the risk in an endeavor are due their rights to control their destiny

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Pay all fees required by, the provisions of

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>>>

Front 337

Payable to the Contractor

Back 337

>>>

Front 338

Payments shall be made into a bank account, nominated by the Contractor

Back 338

>>>

Front 339

Performance is not measured on the basis of transaction data, but by records from portfolio valuations

Back 339

>>>

Front 340

Permanent Works

Back 340

>>>

Front 341

Photographs and detailed descriptions of process

Back 341

>>>

Front 342

Precautions shall be taken by the Contractor to ensure the health and safety of his staff

Back 342

>>>

Front 343

Property companies’ share prices are also usually more volatile than the value of the underlying assets

Back 343

>>>

Front 344

This is one reason why they often prefer to invest in commercial property

Back 344

>>>

Front 345

Protection of the Environment

Back 345

>>>

Front 346

Provide in writing, for information, a general description of the arrangements and methods

Back 346

>>>

Front 347

Provided it is an ‘investor’ rather than a ‘dealer’

Back 347

>>>

Front 348

Provisional Sum

Back 348

>>>

Front 349

Provisions that affected both the value and liquidity of limited partnership interests, particularly those using debt

Back 349

>>>

Front 350

Purchases of shares are not subject to stamp duty

Back 350

>>>

Front 351

Purpose or effect of the scheme is to enable persons taking part in the arrangement to participate in profit or income

Back 351

>>>

Front 352

Qualifications of personnel may be sufficiently different to cause significant difference in price as well as services

Back 352

>>>

Front 353

Quite frequently

Back 353

>>>

Front 354

Ranking of CM firms based on their qualifications

Back 354

>>>

Front 355

Rather than averaging the panelists' score

Back 355

>>>

Front 356

Regulation of any legally constituted public authority

Back 356

>>>

Front 357

Remedying of any defects

Back 357

>>>

Front 358

Requests for the Employer's assistance in applying

Back 358

>>>

Front 359

Require corrective action to be taken

Back 359

>>>

Front 360

Required for the execution and completion of the Works

Back 360

>>>

Front 361

Residential tenants typically commit to relatively short renewable leases,

Back 361

>>>

Front 362

Responsibility for his errors, omissions, discrepancies, and non-compliance with ….

Back 362

>>>

Front 363

Retained by the Employer

Back 363

>>>

Front 364

Retention Money

Back 364

>>>

Front 365

Risk associated with the design and construction

Back 365

>>>

Front 366

Safety Precautions

Back 366

>>>

Front 367

Salaries are the actual salaries of the individuals working on the project

Back 367

>>>

Front 368

Secure financing without excessive overruns

Back 368

>>>

Front 369

Setting Out

Back 369

>>>

Front 370

Several methods are recognized and commonly used

Back 370

>>>

Front 371

Shall be a suitably qualified engineer

Back 371

>>>

Front 372

Shall be applied, and shall notify the Contractor accordingly.

Back 372

>>>

Front 373

Shall be deemed to be exclusively intended for the execution of the Works

Back 373

>>>

Front 374

Shall be wholly in accordance with the Contract

Back 374

>>>

Front 375

Shall carry out the duties

Back 375

>>>

Front 376

Shall comply with the laws of each country where activities are performed.

Back 376

>>>

Front 377

Shall have the right to use such documents

Back 377

>>>

Front 378

Shall have the same effect as though it had been an act of the Employer's Representative

Back 378

>>>

Front 379

Shall not be altered without the prior consent of the Employer

Back 379

>>>

Front 380

Shall not be taken into consideration

Back 380

>>>

Front 381

Shall not be unreasonably withheld or delayed

Back 381

>>>

Front 382

Shall not exceed the values prescribed by law.

Back 382

>>>

Front 383

Shall not prejudice the right of the Employer's Representative to reject such Plant, Materials

Back 383

>>>

Front 384

Shall not relieve the Contractor of his duties obligations or responsibilities

Back 384

>>>

Front 385

Shall not take effect until a copy has been delivered to the Employer and the Contractor

Back 385

>>>

Front 386

Shall notify the Contractor accordingly

Back 386

>>>

Front 387

Shall prevail

Back 387

>>>

Front 388

Shall remain the property of the Contractor

Back 388

>>>

Front 389

Share the risk (usually cost) of a project through contractual provisions

Back 389

>>>

Front 390

Should be advertised in national and local publications

Back 390

>>>

Front 391

Should be aware of when considering whether a commercial property investment product is suitable for a client

Back 391

>>>

Front 392

Should be examined by an experienced person for clarity and internal consistency

Back 392

>>>

Front 393

Should proceed with a logical and methodical evaluation

Back 393

>>>

Front 394

Should provide enough project detail to enable bidders to offer specific information

Back 394

>>>

Front 395

Similar charges imposed by law shall be borne by the Employer.

Back 395

>>>

Front 396

Since a substantial part of the desired outcome from these projects is subjective

Back 396

>>>

Front 397

Since there is no inherent constraint on the allocation of price risk

Back 397

>>>

Front 398

So investors should also seek advice on this

Back 398

>>>

Front 399

So that all areas of exposure are properly understood

Back 399

>>>

Front 400

So that decisions can be rendered in a timely manner

Back 400

>>>

Front 401

So that the owner can successfully accomplish its program or project

Back 401

>>>

Front 402

So that the owner will gain credibility with the contractor and consultant community

Back 402

>>>

Front 403

Some direct expenses may be avoided by use of the owner assets

Back 403

>>>

Front 404

Some leases include break clauses giving the landlord and/or the tenant the option to end the lease before its expiry date

Back 404

>>>

Front 405

Some of which are not written down anywhere

Back 405

>>>

Front 406

Specified in the Contract

Back 406

>>>

Front 407

Specifying the powers, functions and authorities being delegated or revoked

Back 407

>>>

Front 408

Stating the nature of the default for which the claim is to be made.

Back 408

>>>

Front 409

Submit to the Employer

Back 409

>>>

Front 410

Substantial expertise

Back 410

>>>

Front 411

Such communication shall be in writing

Back 411

>>>

Front 412

Such modifications should be undertaken only with the advice of an attorney knowledgeable of the forms

Back 412

>>>

Front 413

Supply of Plant, Materials or services

Back 413

>>>

Front 414

Taking account of cost and time

Back 414

>>>

Front 415

Temporary Works

Back 415

>>>

Front 416

Temporary works of every kind

Back 416

>>>

Front 417

Tensions over construction quality

Back 417

>>>

Front 418

That can help prevent costly problems during construction

Back 418

>>>

Front 419

The absence of a contractor's input into the project design may limit the effectiveness of the design

Back 419

>>>

Front 420

The accumulated retention money

Back 420

>>>

Front 421

The addition of a CM does not lessen the owner's control over the project

Back 421

>>>

Front 422

The additional Cost due to such conditions

Back 422

>>>

Front 423

The amount due is based on the value of an investor’s share

Back 423

>>>

Front 424

The amount of such Cost plus reasonable profit

Back 424

>>>

Front 425

The arbitration rules under which the arbitration is conducted

Back 425

>>>

Front 426

The arbitrators shall have full power to open up, review and revise any decision of the Board.

Back 426

>>>

Front 427

The CM acts as a general contractor during construction

Back 427

>>>

Front 428

The Cm assumes the position of professional advisor or extension of staff to owner

Back 428

>>>

Front 429

The CM organizes the effort, develops the management plan, monitors the participants' progress against the plan

Back 429

>>>

Front 430

The commercial property market places considerable emphasis on the financial strength

Back 430

>>>

Front 431

The company pays corporation tax on the rental income from its properties and any capital gains arising

Back 431

>>>

Front 432

The completed Works will be in accordance with the law in the Country

Back 432

>>>

Front 433

The composition or the constitution of the joint venture

Back 433

>>>

Front 434

The Construction Documents shall comply with the Country's national specifications

Back 434

>>>

Front 435

The Contract Price shall be adjusted to take account of any increase or decrease in Cost resulting

Back 435

>>>

Front 436

The Contractor may apply for an extension of the Time for Completion

Back 436

>>>

Front 437

The contractor pursues a least-cost approach

Back 437

>>>

Front 438

The Contractor shall afford all reasonable opportunities for carrying out their work

Back 438

>>>

Front 439

The Contractor shall appoint a member of his staff at the Site to be responsible for maintaining

Back 439

>>>

Front 440

The Contractor shall bear all costs and charges

Back 440

>>>

Front 441

The Contractor shall comply with all applicable safety

Back 441

>>>

Front 442

The Contractor shall comply with all the relevant labor laws applying to his employees

Back 442

>>>

Front 443

The Contractor shall comply with instructions given by the Employer

Back 443

>>>

Front 444

The Contractor shall confine his operations to the Site, and to any additional areas

Back 444

>>>

Front 445

The Contractor shall effect and maintain insurance against losses and claims arising from the

Back 445

>>>

Front 446

The Contractor shall employ persons who are appropriately qualified, skilled and experienced

Back 446

>>>

Front 447

The Contractor shall give a fair and reasonable opportunity for contractors

Back 447

>>>

Front 448

The Contractor shall give notice

Back 448

>>>

Front 449

The Contractor shall give them full opportunity to inspect, examine, measure and test any work

Back 449

>>>

Front 450

The Contractor shall indemnify the Employer against all

Back 450

>>>

Front 451

The Contractor shall institute a quality assurance system

Back 451

>>>

Front 452

The Contractor shall insure the Construction Documents, Plant, Materials

Back 452

>>>

Front 453

The Contractor shall not be required to disclose

Back 453

>>>

Front 454

The Contractor shall not be required to obtain consent for purchases of Materials

Back 454

>>>

Front 455

The Contractor shall not make any admission which might be prejudicial to the Employer

Back 455

>>>

Front 456

The Contractor shall not recruit, or attempt to recruit

Back 456

>>>

Front 457

The Contractor shall not subcontract the whole of the Works

Back 457

>>>

Front 458

The Contractor shall obtain all permits

Back 458

>>>

Front 459

The Contractor shall obtain, at his cost, a performance security in the amount and currencies

Back 459

>>>

Front 460

The Contractor shall pay rates of wages not less favourable than the general level of

Back 460

>>>

Front 461

The Contractor shall pay the Employer at the prices stated in the Employer's Requirements

Back 461

>>>

Front 462

The Contractor shall prepare the Documents in sufficient detail to satisfy all regulatory approvals

Back 462

>>>

Front 463

The Contractor shall promptly forward to the Employer's Representative duly certified reports

Back 463

>>>

Front 464

The Contractor shall provide all superintendence, labor, Plant, Materials

Back 464

>>>

Front 465

The Contractor shall rectify, at his cost, any error in the positions or alignment of the Works.

Back 465

>>>

Front 466

The Contractor shall submit full supporting details of his application

Back 466

>>>

Front 467

The Contractor shall take all necessary precautions to keep his personnel

Back 467

>>>

Front 468

The Contractor shall take all reasonable steps to protect the environment

Back 468

>>>

Front 469

The Contractor shall take full responsibility for the adequacy, stability and safety

Back 469

>>>

Front 470

The Contractor shall, in collaboration with and to the requirements of the local health authorities

Back 470

>>>

Front 471

The Contractor shall, in every case, continue to proceed with the Works with all due diligence

Back 471

>>>

Front 472

The Contractor's obligations of inspection shall not relieve the Employer of liability for any

Back 472

>>>

Front 473

The Contractor's Representative shall be fluent in the language for day to day communications

Back 473

>>>

Front 474

The correctness and sufficiency of the Contract Price

Back 474

>>>

Front 475

The costs of stamp duties

Back 475

>>>

Front 476

The design package is presented to interested general contractors

Back 476

>>>

Front 477

The detailed planning of the project. Among the methods recognized and commonly used

Back 477

>>>

Front 478

The dispute shall initially be referred in writing to the Dispute Adjudication Board for its decision

Back 478

>>>

Front 479

The documents forming, the Contract

Back 479

>>>

Front 480

The drawings shall be prepared as the Works proceed, and shall be submitted to the Employer

Back 480

>>>

Front 481

The Employer shall be entitled to terminate the Contract

Back 481

>>>

Front 482

The Employer shall determine the matter fairly, reasonably and in accordance with the Contract.

Back 482

>>>

Front 483

The Employer shall grant the Contractor right of access tothe Site

Back 483

>>>

Front 484

The Employer shall have no authority to amend the Contract.

Back 484

>>>

Front 485

The Employer shall, at the request and cost of the Contractor, assist him

Back 485

>>>

Front 486

The Employer will not be responsible for any claims which may arise from the …

Back 486

>>>

Front 487

The Employer's Representative may from time to time delegate any of his duties

Back 487

>>>

Front 488

The Employer's Representative shall confirm, reverse or vary such determination or instruction.

Back 488

>>>

Front 489

The Employer's Representative shall copy to the Employer all communications given or received by

Back 489

>>>

Front 490

The final ranking of CMs should be determined by averaging ranks assigned by each panelist

Back 490

>>>

Front 491

The firm judged most qualified is requested to provide a proposed scope of services

Back 491

>>>

Front 492

The greater the risk profile, the greater the need to control

Back 492

>>>

Front 493

The holding period has been shortening over time, suggesting steady gains in liquidity

Back 493

>>>

Front 494

The impact of changes

Back 494

>>>

Front 495

The integration and coordination of the complex interrelationship occurring

Back 495

>>>

Front 496

The investment value of a property depends in part on the financial strength of its tenant

Back 496

>>>

Front 497

The issue of price does not enter in to the ranking

Back 497

>>>

Front 498

The lease may also contain restrictions, either expressly in the lease documentation or implied by law

Back 498

>>>

Front 499

The length of new leases has been shortening over the last 10 years

Back 499

>>>

Front 500

The location is likely to improve

Back 500

>>>

Front 501

The main issues are outlined below

Back 501

>>>

Front 502

The market norm is to assume that a tenant’s break option will be exercised

Back 502

>>>

Front 503

The more consistent

Back 503

>>>

Front 504

The most frequently cited criticism of ACM

Back 504

>>>

Front 505

The new rent negotiated on review cannot be lower than what the tenant is currently paying

Back 505

>>>

Front 506

The organization or individual who undertakes responsibility for the performance of the work

Back 506

>>>

Front 507

The owner generally faces exposure to contractor claims

Back 507

>>>

Front 508

The owner has an obvious need to determine a realistic budget

Back 508

>>>

Front 509

The owner requires an understanding of the risks involved in construction and should make a conscientious decision

Back 509

>>>

Front 510

The owner should strongly favor D-B teams with successful track recording work

Back 510

>>>

Front 511

The owner utilize a CM to consult

Back 511

>>>

Front 512

The owner's needs and expectations with respect to scope, schedule and budget should included in the description

Back 512

>>>

Front 513

The parties shall attempt to settle such dispute amicably before the commencement of arbitration provided that unless the parties agree otherwise, arbitration may be commenced on or after the amicable settlement has been made.

Back 513

>>>

Front 514

The partnership agreement will determine a partner’s entitlement to income and capital gains

Back 514

>>>

Front 515

The performance security shall be valid

Back 515

>>>

Front 516

The periods for the pre-construction reviews

Back 516

>>>

Front 517

The price at which units may be redeemed will typically reflect the costs and expenses of disposing of the fund’s assets

Back 517

>>>

Front 518

The primary caution for an owner considering D-B

Back 518

>>>

Front 519

The primary disadvantages

Back 519

>>>

Front 520

The private or public organization ultimately responsible for the proper execution of the project

Back 520

>>>

Front 521

The quantities consumed shall be determined by the Employer's Representative

Back 521

>>>

Front 522

The real estate market in the UK does not follow the same pattern

Back 522

>>>

Front 523

The respondent's experience with projects of similar nature, including owner references

Back 523

>>>

Front 524

The resultant sum is

Back 524

>>>

Front 525

The RFP should be drafted with the understanding that

Back 525

>>>

Front 526

The RFP should provide prospective respondents with a description of the project

Back 526

>>>

Front 527

The risk of misunderstanding is large and can easily result in either dispute over what is included in the GMP

Back 527

>>>

Front 528

The scope of services should include deliverables or other tangible methods for measuring performance

Back 528

>>>

Front 529

The security shall be for an amount which is an assessment of the compensation

Back 529

>>>

Front 530

The sequence of all tests specified in the Contract.

Back 530

>>>

Front 531

The sum stated in the Letter of Acceptance

Back 531

>>>

Front 532

The tax rates quoted are those in force for the tax year 2006/07

Back 532

>>>

Front 533

The tenant is committed to pay the landlord a rental income which is effectively fixed until the lease is terminated

Back 533

>>>

Front 534

The term agency infers

Back 534

>>>

Front 535

The UK’s familiar lease structure, geographical proximity and common language are also factors that appeal to Irish investors

Back 535

>>>

Front 536

The unit trust itself is exempt from tax on capital gains but pays corporation tax on its income profit

Back 536

>>>

Front 537

The value of a building also depends on the rental income it can produce for its owner

Back 537

>>>

Front 538

The value of the property is likely to be downgraded, regardless of how many years are left on the lease

Back 538

>>>

Front 539

The Works shall include

Back 539

>>>

Front 540

Their performance also tends to be more closely aligned with the equities market

Back 540

>>>

Front 541

There are many issues an owner must consider in undertaking a project

Back 541

>>>

Front 542

There are several issues an owner must consider in the selection of a method o accomplishment a project

Back 542

>>>

Front 543

There are several types of fees and costs that may or may not be covered by the initial fees

Back 543

>>>

Front 544

There are some general points that should be taken into account

Back 544

>>>

Front 545

There is a growing number of products which allow them to invest in property funds via a variety of structures

Back 545

>>>

Front 546

There is no obligation to distribute capital gains

Back 546

>>>

Front 547

Therefore a realistic assessment of project sequencing needs to be performed early in the planning process

Back 547

>>>

Front 548

Therefore, they tend to underestimate the true volatility of

Back 548

>>>

Front 549

These decisions may concern change orders, contracts, and dispute settlements

Back 549

>>>

Front 550

These PUTs offer tax efficiencies as well as some liquidity in units

Back 550

>>>

Front 551

These services are provided to ensure that the project is efficiently and effectively managed

Back 551

>>>

Front 552

These usually include professional fees associated with establishing the fund (legal, taxation, regulatory)

Back 552

>>>

Front 553

Things of all kinds

Back 553

>>>

Front 554

This activity is not undertaken lightly

Back 554

>>>

Front 555

This can be an especially powerful technique

Back 555

>>>

Front 556

This contracting system offers the advantage of being widely applicable

Back 556

>>>

Front 557

This contractor lacks the contractual authority to dictate the schedule of another contractor

Back 557

>>>

Front 558

This decision has become more difficult

Back 558

>>>

Front 559

This does not necessarily rule it out, if the risk is well understood, but it requires careful consideration

Back 559

>>>

Front 560

This enhanced confidence grows out of the ability of a professional CM to make expert recommendations regarding:

Back 560

>>>

Front 561

This form of compensation is not recommended as it is arbitrary and not related to the effort that may be required

Back 561

>>>

Front 562

This guide aims to raise financial advisers' understanding and knowledge of commercial property investment by

Back 562

>>>

Front 563

This guide will benefit those who will embark on a construction project

Back 563

>>>

Front 564

This is because the risk of tenant default is now perceived to be greater

Back 564

>>>

Front 565

This is because the risk of tenant default is now perceived to be greater.

Back 565

>>>

Front 566

This is changing rapidly

Back 566

>>>

Front 567

This is commonly found in heavy construction projects

Back 567

>>>

Front 568

This time lapse clearly represents an opportunity cost for investors

Back 568

>>>

Front 569

This will have the effect of reducing the number of competing firms to what is commonly known as "short list"

Back 569

>>>

Front 570

This will only be viable for a few and even they will find it very difficult to achieve

Back 570

>>>

Front 571

This, along with the lease terms, is critical in assessing both the risk in, and the value of, an investment

Back 571

>>>

Front 572

Thus, developers want to let their schemes to good occupiers

Back 572

>>>

Front 573

To assure that both parties are in agreement on the desired level of service

Back 573

>>>

Front 574

To Attempt Agreement

Back 574

>>>

Front 575

To avoid confusion

Back 575

>>>

Front 576

To be an advocate for the owner

Back 576

>>>

Front 577

To be submitted by the Contractor

Back 577

>>>

Front 578

To chose a appropriate and effective system for its particular project

Back 578

>>>

Front 579

To demonstrate compliance with the requirements of the Contract

Back 579

>>>

Front 580

To enhance and reinforce the strengthens of the owner's

Back 580

>>>

Front 581

To ensure that the relative best of the proposals are identified

Back 581

>>>

Front 582

To have a completed design in hand prior to the commencement of construction

Back 582

>>>

Front 583

To help the owner achieve its objectives

Back 583

>>>

Front 584

To manage the risks

Back 584

>>>

Front 585

To provide the respondents with the best opportunity to show their capabilities

Back 585

>>>

Front 586

To publish market information and research

Back 586

>>>

Front 587

To take advantage of expected market trends

Back 587

>>>

Front 588

Together with the costs of marketing and distribution

Back 588

>>>

Front 589

Type of skills that will be necessary

Back 589

>>>

Front 590

Typically covers most of the set-up costs

Back 590

>>>

Front 591

Typically, professional services of this sort are procured on the basis of an objective evaluation of the qualifications of the competing firms

Back 591

>>>

Front 592

UK REITs are not taxed on their income and capital gains from investment properties. As a result

Back 592

>>>

Front 593

Under the terms of his appointment by the Employer

Back 593

>>>

Front 594

Under which tax-paying investors in property companies suffer double taxation

Back 594

>>>

Front 595

Unforeseeable Conditions

Back 595

>>>

Front 596

Unless it falls within stated exemptions

Back 596

>>>

Front 597

Unless it is legally or physically impossible

Back 597

>>>

Front 598

Unless otherwise specified

Back 598

>>>

Front 599

Unless the Contract has already been repudiated or terminated

Back 599

>>>

Front 600

Unless the RFP is extremely detailed and specific on the issues of cost, the total cost of two proposals will probably not to be comparable

Back 600

>>>

Front 601

Use of standard forms increases the predictability of project outcomes

Back 601

>>>

Front 602

Version which is in the ruling language

Back 602

>>>

Front 603

Visual inspection

Back 603

>>>

Front 604

Well formulated and priced construction

Back 604

>>>

Front 605

What products give your clients access to these attributes?

Back 605

>>>

Front 606

Whatever level of expertise the owner may have

Back 606

>>>

Front 607

When the Contractor is required to determine value, Cost or extension of time

Back 607

>>>

Front 608

Whenever required by the Employer's Representative

Back 608

>>>

Front 609

Whenever the Contractor's Representative is to be absent from the Site

Back 609

>>>

Front 610

Where neither party has given notice of dissatisfaction within the period stated in Sub-Clause

Back 610

>>>

Front 611

Where the competition is close, two or more rounds of interviews may be necessary

Back 611

>>>

Front 612

Wherein the lowest responsible bidder will earn the right to perform the work

Back 612

>>>

Front 613

Whether of a temporary or permanent nature

Back 613

>>>

Front 614

Whether on or off the Site

Back 614

>>>

Front 615

Whether there is also a separate charge for property management

Back 615

>>>

Front 616

Which are currently subject to tax on income at 20%

Back 616

>>>

Front 617

Which are not opened and compared until bidders have already been ranked based on their technical proposals

Back 617

>>>

Front 618

Which are to be supplied by the Contractor

Back 618

>>>

Front 619

Which are truthful and accurate

Back 619

>>>

Front 620

Which can often occur

Back 620

>>>

Front 621

Which he may consider necessary

Back 621

>>>

Front 622

Which in his opinion were not foreseeable by an experienced contractor

Back 622

>>>

Front 623

Which is instructed by the Employer

Back 623

>>>

Front 624

Which is known to be outstanding at the completion date

Back 624

>>>

Front 625

Which is necessary to satisfy the Employer's Requirements

Back 625

>>>

Front 626

Which may be necessary for the of owners and occupiers of adjacent land

Back 626

>>>

Front 627

Which shall be added to the Contract Price

Back 627

>>>

Front 628

While it can be argued that such costs may actually reduce overall project costs

Back 628

>>>

Front 629

While it is not necessary that all members of the committee be familiar with the design and construction process

Back 629

>>>

Front 630

While the mechanical contractor blamed the general contractor for its delays

Back 630

>>>

Front 631

Whose interests may be in conflict with those of the project or of the owner, due to contractually assigned risks

Back 631

>>>

Front 632

Will be subject to the influences of the equity markets

Back 632

>>>

Front 633

Will disclose conflicts which in my opinion may impair my objectivity or integrity

Back 633

>>>

Front 634

Will enable the owner to make informed and timely decisions during the evolution of the project

Back 634

>>>

Front 635

Will have a large influence over the amount

Back 635

>>>

Front 636

Will the schedule be affected by outside influences?

Back 636

>>>

Front 637

Will the schedule be lengthened by cash flow consideration?

Back 637

>>>

Front 638

Will typically cover distribution, promotion and marketing expenses

Back 638

>>>

Front 639

With cross references to relevant specifications

Back 639

>>>

Front 640

With details of any aspects which may jeopardize the completion in accordance With the Contract All Equipments, when brought on to the Site

Back 640

>>>

Front 641

With the expectations and needs of the project

Back 641

>>>

Front 642

With this lesson in mind it appears that D-B is best suited to conventional projects

Back 642

>>>

Front 643

With vast knowledge of the business

Back 643

>>>

Front 644

Within 14 days of the issue of the Performance Certificate

Back 644

>>>

Front 645

Within the Contract Period

Back 645

>>>

Front 646

Within the Time for Completion

Back 646

>>>

Front 647

Within the time stated

Back 647

>>>

Front 648

Without a great deal of confidence in the D-B team

Back 648

>>>

Front 649

Without the Contractor's consent

Back 649

>>>

Front 650

Words importing one gender also include other genders.

Back 650

>>>

Front 651

Work in each construction discipline is bid separately

Back 651

>>>

Front 652

You may opt to include a mandatory proposal outline to which bidders must adhere

Back 652

>>>

Front 653

You may wish to interview the top candidates

Back 653

>>>