The new JCT Intermediate Building Contract 2016 is available for pre-order now (to be despatched on 7 December 2016)!
JCT have given us a flavour of what the new form will include, and these appear to follow on from the changes introduced in the JCT Design and Build 2016 form of contract. The changes will include:
- incorporation of the provisions of the JCT Public Sector Supplement 2011 relating to Fair Payment, Transparency & BIM;
- adjustments to reflect the Construction (Design & Management) Regulations 2015 and the Public Contracts Regulations 2015;
- amendments to the works and existing structures insurance provisions;
- changes to the payment provisions, including:
- establishing (for Fair Payment purposes) Interim Valuation Dates that apply to main contract, sub-contract and sub-subcontract levels;
- an increase in the flexibility in relation to fluctuations provisions; and
- a consolidation of the notice requirements of the Housing Grants, Construction & Regeneration Act 1996;
- inclusion of provisions for the grant of Performance Bonds and Parent Company guarantees; and
- changes to the way the requirements for Collateral Warranties and/or Third Party Rights are set out.
To read about the changes to the JCT Design and Build 2016 form of contract, click here.