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Unformatted text preview: tractor is obligated to pay
its subcontractors following receipt of payment from the owner.
37 Standard Form Contracts
• Standard form contract is a contract between two parties where the
terms and conditions of the contract are set by one of the parties,
and the other party is placed in a "take it or leave it" position with
little or no ability to negotiate terms more favorable to it.
• Some owners build enough projects to generate their own forms.
• Those may be project-specific, or for particular types of jobs or
– Hong Kong Government
– Federal / state government
– Companies e.g. MTRC
• Some general contractors may also have their own subcontract
forms, purchase orders, letter of agreement, etc.
38 Standard Form Contracts
• Stanford forms of contract are also provided by various
professional organizations, e.g.
– FIDIC (International Federation of Consulting Engineers, in
– NEC (The New Engineering Contract)
– AIA (American Institute of Architects)
– DBIA (Design-Build Institute of America) 39 Contract Documents
• Formal agreement
• General conditions of contract (GCC)
– A stand...
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This document was uploaded on 01/28/2014.
- Fall '14