Although YCW contracts follow a standard format, it`s still important to understand what`s in the document, especially if you`re not familiar with how to use it. Associated risks include: The YCW promotes the pre-settlement of liquidated and detected damages (LAD) as an estimate of the payer`s weekly losses if the payee does not reach the practical conclusion by the contract closing date. If the delays are due to reasons not attributable to the contractor, the contractor may request an extension of the deadline: if the contract administrator allows it, it will in fact extend the period before which the contractor is required to pay the LAD. As a school and employer for a project, your top priority is to make sure that all the construction work you order is completed on time, within budget and at the highest level of quality and, most importantly, that you receive exactly what you have planned or requested. Throughout the process, the contractor may need to open the job for inspection by the employer and ensure that the work meets not only the employer`s requirements, but also what the contractor has included in their contractor`s proposals for the work. YCW contracts are typically entered into between an “employer” and a “contractor” to facilitate the delivery process of a construction project. They shall define all relevant conditions, including the obligations of the parties, the associated costs and the specification of the project. This way, all parties can see exactly what needs to be done, when it needs to be done, who needs to do the work and what the cost will be. The contract itself exists only to try to determine exactly what is expected of each party and tries to spread the risk accordingly. Regardless of opinion, it is important to remember that the Joint Contracts Tribunal (JCT) consists of seven members representing a wide range of interests and experiences in the UK construction industry.

The organization was and still is able to create balanced and standardized forms of contract that represent a balanced allocation of risk between the parties, and that is exactly what it does in its standard form.