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By VOLOCO LLP, Oct 31 2019 12:57PM
Dedicating the required amount of effort and investing in reviewing tenders before committing to submit is a proven strategy to identify, manage and reduce risk, potentially saving you wasted time and effort in the tendering process and even more significantly from entering into a deal that may be a bad one for you.
Knowing what to look for and where to look for it is something that is gained with experience and varies by project and the proposed contract. Below is a list of the main points to consider when reviewing a tender that is received (it is not an exhaustive list).
By VOLOCO LLP, Oct 31 2019 12:53PM
Change is (almost) inevitable in construction. Virtually all construction projects depart from the original tender design at some point during completion of the works. For this reason, all major forms of construction contract and subcontracts include some form of change control procedures for dealing with these changes.
There are any number of reasons that changes can occur during a construction project including:
By VOLOCO LLP, Oct 31 2019 12:46PM
All legal contracts including construction ones often use Latin words and phrases to express something. You may come across some of these and it would be good if you understood their meaning.
So here are a few words/phrases that you might encounter, what they mean and where you might see them…
By VOLOCO LLP, Sep 28 2019 03:40PM
Procuring the work packages can make or break a construction project. Following the steps set out in this article will help reduce the risks associated with work package procurement, give you more control and ultimately improve your business performance.
Like all successful projects, planning and the time and effort invested up front is paramount to the subsequent delivery and commercial success of the project. There are a few key steps to follow that will improve performance. Each of the steps below could be expanded on further and many will be in future articles.
By VOLOCO LLP, Sep 28 2019 02:49PM
Following on from our previous article looking at payment processes in Construction Contracts, we are now going to delve into the details a bit more, starting with the Application for Payment.
WHAT IS AN APPLICATION FOR PAYMENT?
An application for payment is an assessment of the works due to be completed up to the next payment due date. It is issued by the party that carried out the works to the party paying for the works. Generally, the application is issued a set number of days in advance of the payment due date.
Whether or not there is a requirement for an application for payment to be issued within the (sub)contract, it is a good idea to get into the habit of issuing them. As noted in the previous article, if the payer fails to issue their payment notice at the correct time, the application for payment will become the default payment notice and the sum detailed within becomes due on the final date for payment.
We are soon to be launching an innovative Contractor Support service aimed at providing advice and support to individuals and companies who may be experiencing challenges or with growth and improvement ambitions.
VOLOCO LLP are developing an online portal providing access to a range of procedures, guidance and forms, learning tools, access to remote online and telephone support and face-to-face consultant time with one of our team.
If this is something that you feel would benefit you or your business and want to find out more, please get in touch by email or telephone.
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