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

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