Hello friends, welcome back to my youtube channel. In this video, I am going to explain the construction contract part three in this part three, I I will explain the clauses of the Contract this is just, we can say there the general condition of contract and the special condition of contract. So this is very important part for the construction contract so watch this carefully and I request you to watch this till end and If you like this video, so please click on the like button. First I am going to explain the general condition contract condition, that set the minimum performance requirements for the contractor and are common to all types of contracts these Conditions are also include the rights and well as contractor involved GCC’s are Integral part of the contract. So this is the definition of the contract. So let us start the Important process of the general condition in this definition clause we define what is engineer architect contractor client own virtual completion working time and other Terms used in the contract. We explain here the second What is the scope of work in this is preferred date of commencement? date of commencement means at what date the work will start by the contractor so we can say that that is the starting date of the project nature of contract nature of contract on some contract or cost plus contract So this is the nature of contract next one is all-inclusive with rates We define whether the rates are inclusive of taxes or exclusive of taxes is exclusive or increase will be defined in this clause Next one is insurance in this insurance part Like the always policies So the contractor will provide the all risk policies and any other incidents required So who will be responsible whether the contract we’ll do it or the client will do so in this incidence path We define all these things it’s it’s very important clause Italy Lower regulations in this level of regulation conductor will be responsible for on labor laws such as payment wages It is what I explained here definition scope of work date of commencement nature of contract all-inclusive rates incidence and labor regulations Few of them are still remaining. So let’s go to the next slide ESI and EPF es contribution if it like Employees state incidence. This is ESI. And Employees Provident Fund EPF. So the contractor will also responsible for this thing So next one is mode of measurement and any other method will be followed so in this mode of measurement the description is given Next one is payment how the payment will be given I mean there is any advance payment and after some meeting they are running. I can’t be how the payment will be Released there is any a document will be released so all these payments realistic things is mentioned in this payment clause next one is extra attempts of Substituted item how the extra item is defined. I mean whether the person the profit is 15% cost plus materials plus labor whatever is In it is defined how extra item a subtitle item will be there. You are derived So this is also important clause Next one is time for completion so as You know that the what is the time of completion we mention is whether it is a one-year project or two years So by on what date this project will be completed next one is virtual completion of work virtual completion wall of work is actually completion with ex nag lives we give a Late in the construction field the safety clause it is all safety words to be followed and if there is any penalty if the contractor not following the safety codes, so we mentioned so I Explained ESI and EPF mode of measurement payments extra time substitute items time for completion Virtual completion of Worth and safety now there is a few Clauses also left in the general condition of contracts. So let’s go to the next slide in this next slide This is the dispute settlement and arbitration So a form of alternative dispute resolution is a way to resolve disputes outside the code so this is the Arbitration is not a system by which you can get with settlement outside of the important Liquidated damages if project is delayed. So what the penalty will be Imposed on the contract and so this is called the liquidated damages Generally the liquor more than the and x 1.is extension of time. So in what sir comes even to the contractor? Guarantees of the work whatever the executed whatever the work be excreted by the contactor so the conductor will give the guarantee for that defect liability period in this different level tepees withheld with the Client and after the quick liability period that security or attention money is released. This is a force majeure force Every condition in which in what? circumstances the delays not considered if any delays is happened, but there is some circumstances if they’re between two countries or Any earthquake happens will these conditions then glaze not Plasma nation termination is the conditions to terminate the contract by the client or by the control I explained here dispute settlement an arbitration liquidated damages extension of time guarantees defect liability period For scenario Termination So these all were the general condition of contract now, let’s move to a special condition of contract a Special condition of contract what is a special condition of on to the condition? Which do not fall under? General conditions and is specific for the particular good. So this is called a special condition so special condition of contract first is performance bond a bond issued by a migrant in the fulfillment of a particular Contract this is a performance Next one is earnest money and unless money is a specific form of seeking to deposit made in some major Transactions such as real estate dealings are required by some official procurement Process the serious and willing to demonstrate an earnest of good faith wanting to complete the transaction, so whether he is Serious or not for that there. They have to deposit some money. Next one is mobilization of us It was given to the contract of the value of the project Next one is water electricity With that client will provide free of cost for contractor will arrange. So this is a water electricity next one is escalation free contract Supply of material by client. So what are the material supplied by the plant? So we mentioned here and what will be the wastage consumer? Consideration this is mentioned in this cloth and last but not the least reduction money and sequel to deposit which I explained earlier at the time of defect liability period so this retention amount is withheld with the client for the rectification of the work if contract have not rectify the work during the difficulty period so by this security amount that

Important clauses of Construction Contract |Conditions Of Contract |Part-3 |Er. Raghvendra

14 thoughts on “Important clauses of Construction Contract |Conditions Of Contract |Part-3 |Er. Raghvendra

  • May 17, 2018 at 11:45 am
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    Nice explanation

    Reply
  • May 17, 2018 at 11:50 am
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    Friends, if you want the format of the General condition of contract & special condition of the contract, please write your email id in the comment box.

    Reply
  • May 17, 2018 at 12:58 pm
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    very useful video ๐Ÿ˜Š๐Ÿ•บ

    Reply
  • June 29, 2018 at 4:32 am
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    Could you explain the differences between Types of contract and Form of contract? Thanks

    Reply
  • July 29, 2018 at 8:00 am
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    Thanks for your information and effort. The explanation, presentation and clarity is totally awesome. Keep rocking. I'd like to request some brief information about the 7 clauses under Special Contract. means any format you have please send my email id: [email protected]

    Thanks for your time and support.

    Reply
  • August 11, 2018 at 4:59 am
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    sir i want to know detail about RECANCIATION of material & what % will allow in waisteg of material
    can you make saperate video for this (explane with example)

    Reply
  • October 28, 2018 at 2:28 am
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    [email protected], sir I want some reference books for types of contact, clauses with nice explanation like you did in the videos but more comprehensively. Please send the BOQ as well.

    Reply
  • December 3, 2018 at 4:52 pm
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    Nice

    Reply
  • January 21, 2019 at 3:14 pm
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    Make video on FAR ,builtup area etc

    Reply
  • April 22, 2019 at 2:12 pm
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    MNC or contracts betn two nations should be as per FIDIC std!

    Reply
  • June 13, 2019 at 6:59 pm
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    Please make a video on profit loss analysis with example

    Reply
  • July 15, 2019 at 2:39 pm
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    FIDIC should support;encourage Consulting Engineers of all disciplines:-Civil;Electrical;Mechanical;Chemical;Aerospace;Nuclear;
    Elx&Telecom; Computer&N/W; IT&S/W; Instrumentation&Control; Industrial&Production; Marine;Manufacturing;Environmental;
    Naval;Fire&Safety;Structural;Textile;Mining; etc.

    Reply

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