Contract Risk Analysis Report
UK Sub-Contractors that are proposing to supply and install materials for a main contractor on a construction project, will typically be offered a contract in the JCT or NEC standard contract format. In some cases main contractor will create their own bespoke form of contract. Main contractors often add clauses and amendments to the standard forms of contract to load risk and responsibility onto the subcontractor in the event of a delay or problem on site.
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Therefore, it is essential that subcontractors ensure they are aware of what they are signing up to and fully understand the risks and take the opportunity before signing any contract to negotiate amendments to the contract for legal protection in view of maintaining profitability on any project even in the event of an unforeseen problem or delay on site.
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The IROS contract risk analysis report goes through the contract in question and identifies elements of risk and levels of risk, provides amendments so as to mitigate risk and NEW FOR 2021 now incorporates a pdf schedule of suggested amendments that can be forwarded to the Main Contractor saving considerable time and money in reviewing and interpreting the report.
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This is a review and report on the terms and conditions and particulars of a Main Contractor subcontract (a standard form of JCT or NEC contract with amendments) with a guaranteed turnaround of within 2 weeks of receipt of the documents (but always endeavour to exceed our client’s expectations). Each report is priced according to its length and complexity, the Service includes:
i) comprehensive risk appraisal of the original clauses and the Contractor amendments;
ii) suggested alterations and full copy of the reasonably adjusted clauses;
iii) separate response for the Contractor; and
iv) 1 follow up phone call to answer any queries (further hours charged thereafter)
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IROS can also report on short form contracts, non-standard contracts, extensive double clause contracts, framework agreements, and other forms of contracts on application so please feel free to contact IROS to discuss your requirements.
JCT Contract Report
An assessment of main contractor amendments to JCT standard format subcontracts can also include a review of essential contract data covering:
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Value, MCD, Execution, Precedence, Notices procedure, Adjustment or re-measurable, Main contractor Requirements or Sub Contractors Proposals, Retention. Moeities, Defects Liability Period, Payment provisions and Application Modes, Status of Subcontract Sum Analysis, Collateral Warranties, Retention Bonds, Parent Company Guarantees, Performance Bonds, Liquidated Ascertained Damages, Relevant Events and Matters, Variations procedure, Sub-Subcontract and Insurance
NEC Contract Report
Consists of a substantial and detailed
report identifying the key options
employed and essential contract data with explanatory and review notes including:
Main options, secondary X clause options, Y(UK) options, Z clauses, essential dates
including access dates, key dates and completion date of whole works, assessment interval and payment periods, defects date and defects correction period and insurance requirements
Bespoke Contract Report
The Bespoke report includes assessment of main contractor bespoke clauses that are outside any standard form of contract format and suggested amendments and additions to mitigate risk levels and improve measures of reasonableness often lacking in bespoke subcontracts. This service also includes the realm of supply only contracts.
How It Works
1
Scoping & Quote
Upon recieving your contract, IROS will perform an initial review and provide a quote to do a full risk analysis report.
2
Contract Analysis
The contract document will be
meticulously analysed to identify any onerous or unacceptable clauses and any other points that you should be aware of. This will be collated in an easy to navigate report and a document will be provided to send to the main contractor containing the suggested contract amendments.
3
Follow Up
With every contract report, IROS offers a follow up call to answer any queries that you may have relating to the contract and the risk analysis report.
