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7 Cards in this Set
- Front
- Back
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How to choose the right type of contract? |
* classified by scope of service (contract for construction, etc.) * classified by price nature (Unit Price Contract, Lump Sum Contract, Cost Plus Contract, etc.) * classified by contractural relationship ( Concession Agreement, Contract for Design-Build, Contract for EPC/Turnkey Projects, Subcontract, etc.) |
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How to choose the suitable standard conditions of contract published by FIDIC |
* Based on actual situation or kind of project Standard forms of contract published by FIDIC (a) Conditions of Contract for Construction - recommended for building or engineering works designed by the Employer or by his representative, the Engineer. (b) Conditions of Contract for EPC/Turnkey Projects: - for turnkey projects, the Contractor carries out all the Engineering, Procurement and Construction (EPC), providing a fully-equipped facility, ready for operation (at the "turn of the key"). (c) Short Form of Contract: - recommended for building or engineering works of relatively small capital value, - recommended for relatively simple or repetitive work or work of short duration. |
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How to understand the principles of applying law of contract? |
* Theory of autonomy of will - Both parties decide and agree on what applicable law of contract * Theory of localization of contract - Both parties agree to apply the applicable law of the place or jurisdiction for the performance or conclusion of the contract |
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How to choose the applicable risk response strategy? |
Risk response strategy: * Avoidance * Risk Control, - Adapt strategic measures to control the risk * Transfer of risk
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Could you give some examples of insurances and guarantees used in contract management of engineering project? |
- Insurance: - construction/installation all risks insurance, - design liability insurance, - employer's liability insurance, - cargo insurance during transportation -automobile liability insurance, etc. - Guarantee: - tender bond, - performance security, - advance payment guarantee |
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What are the dispute resolution procedures? |
Dispute resolution procedures includes amicable consultation, mediation, adjudication, arbitration, and litigation |
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What is DAB? |
DAB (Dispute Adjudication Board): A panel of experienced, respected, impartial and independent reviewers, which is jointly appointed by the parties to contract, to help them settle the dispute without any delay. |
