ICE Conditions of Contract Target Cost. Version, First Edition: Guidance Notes

Front Cover
Thomas Telford, 2006 - Civil engineering contracts - 61 pages
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This publication provides guidance to the ICE Conditions of Contract Target Cost Version, First edition which encourages active collaboration to reduce costs by sharing expertise and jointly managing risks in an open working environment, within the framework of the ICE Conditions of Contract family. It encourages the Contractor to be more closely involved in aspects of design, provides for payment to the Contractor on a cost reimbursable basis and an incentive share arrangement if the costs differ from the target. A more open style of control and management, which permits an early and joint approach to the identification and management of risks, obliges parties to recognise and understand each other's objectives and promotes closer working relationships.

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Choice of target cost contract
Operation of the Contract
Notes on specific Clauses 26
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Other ICE Conditions of Contract publications

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