The Construction Contracts Act 2002: protects retention money withheld under commercial construction contracts. helps to ensure a fair, balanced and appropriate payment regime. provides enforcement mechanisms to recover any unmade payments.

What is contract period in construction?

Most construction contracts set a date by which the works described in the contract must be completed (the completion date or contract completion date). This is not the date by which all obligations under the contract have to be discharged, but the date by which ‘practical completion’ must be certified.

When can a construction contract be terminated?

First, an owner can terminate a construction contract if the contractor defaults and thereafter fails to cure such default, which may include, without limitation, the failure to remediate deficient work, the failure to meet the construction schedule, the failure to pay subcontractors and the failure to comply with …

What are conditions of contract for construction?

The Contractor is referred to the Conditions of Contract and other documents, Specifications and Drawings as well as relevant Standards and Codes of Practices for further information as no claim or variation will be considered on account of the Contractor’s failure so to do.

Can you contract out of the Construction Contracts Act 2002?

It’s important to note, it is not possible to contract out of the Act. The Act has effect despite any provision to the contrary in any agreement or contract (s12). For example, an agreement to mediate or arbitrate does not preclude a party from referring a dispute to adjudication.

What does the Construction Act cover?

The Housing Grants, Construction and Regeneration Act 1996 (HGRA – also known as the Construction Act) is intended to ensure that payments are made promptly throughout the supply chain and that disputes are resolved swiftly. Provisions of the act include: The right to be paid in interim, periodic or stage payments.

Can you get out of a construction contract?

In most cases, a contract can be terminated by one party if the other party fails to execute their end of the agreement. If one party is unwilling or unable to keep to the terms of the contract, you can legally end the contract.