ICE Conditions of Contract Target Cost. Version, First Edition: Guidance Notes
Thomas Telford, 2006 - Civil engineering contracts - 61 pages
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.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Choice of target cost contract
Operation of the Contract
Notes on speciﬁc Clauses 26
Associated publications appropriate to the Contract
Other ICE Conditions of Contract publications
adjudicator agreed amount Appendix apply appointed arbitration assessment beneﬁts breakdown structure carried Certiﬁcate of Substantial certiﬁcation of Total Chartered Engineer Clause 52 Conditions of Contract Contractor Fee Contractor’s estimate Cost to date cumulative payment due date at substantial date to end Defects Correction Period deﬁned Disallowed Cost documents DP band due at end due to Contractor Employer Employer’s requirements end of Month Engineer’s certiﬁcation Engineer’s Representative ﬁgure ﬁnal account Form of Tender guaranteed maximum price Guidance Notes ICE Conditions identiﬁed including Contractor’s Share Insert the greater issue Item 20 liquidated damages method statements monitoring Month 9 negotiation Notice of Dispute parties Payment to Contractor procedures programme provisions of Clause reduce costs responsibility retention risk management share percentage Speciﬁcation statement of Total sub-contractor submission substantial completion Target Cost adjustments target cost contract Target Cost value Target Cost Version Total cumulative payment value engineering veriﬁcation of Target