ABSTRACT
Abatement: A reduction in an amount paid to a party to refl ect inadequate performance by that party (contrast set off ).
Acceleration: When this term is used within the context of a building contract it refers to an agreement by the contractor to fi nish earlier than he would otherwise be required to do under the terms of the building contract. This does not necessarily mean earlier than the contractual completion date but earlier than the date by which he would be obliged to complete, bearing in mind any extension of time (see below) to which he would otherwise be entitled. If the contractor agrees to accelerate then this is almost invariably in return for an increased payment and a separate acceleration agreement should be negotiated (usually with the benefi t of legal advice) because there may be a substantial knock-on effect on other elements of the contract.
