ABSTRACT

In a contracted work environment such as construction there is generally distrust between the contracting entities. The Owner feels that the General Contractor is going to cheat him, cut comers, and try in every way to make as large a profit as possible. On the other hand, the General Contractor is concerned that the Owner is going to nit-pick every aspect of the work, often rejecting the work and requiring that it be redone until the General Contractor goes broke. In such an environment the contract is the means whereby all the parties to the work to be performed define what is expected and commit to what will be delivered at what price.