ABSTRACT
The construction industry relies on standard forms of contract which should achieve a fair allocation of risk between contractors and clients. Nevertheless, a standard form of contract needs to be customised to a specific project, and often the contract is amended to change the balance of risk. The joint contracts tribunal (JCT) Design and Build Contract is often used for large and complex construction projects including sports stadia, shopping centres and office blocks. It is used by both the public and private sectors. The current edition is explained as an example JCT main contract. Once a contractor’s tender is accepted, a valid contract can come into existence immediately, but sometimes the employer makes acceptance subject to conditions such as the execution of a formal contract or the provision of a surety bond.
