Easily Replace Calculations into the Construction Contract

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How to Replace Calculations into the Construction Contract

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good morning and welcome to this webinar brought to you by the edmonton construction association on the new ccdc 2 standard stipulated price contract form known as ccdc2 2020. my name is michael atkinson im the immediate past president of the canadian construction association a position i held for some 23 years im a lawyer and a former secretary of the canadian construction documents committee from 1983 to 1993 and contrary to the rumor you may have heard the documents were not on stone tablets at that time but uh yes i was around when the the current version of two really took it first shape back in 19 in the early 1980s and i think its important to remember well first of all if questions uh you could submit them by the chat option or the q a option a tailor is going to be monitoring them and after my presentation thats when ill take up the questions i hope to go about 45 minutes and hopefully itll be more than enough time for for your questions i think its important to remembe

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What is a contract modification in construction?

Contract modifications are changes in the work required during construction. This chapter discusses the means of accomplishing these changes: Field orders. Change orders.

What is an example of an addendum?

An addendum is an addition to a finished document, such as a contract. The most common addendum is an attachment or exhibit at the end of such a document. For example, a contract to manufacture widgets may have an addendum listing the specifications for said widgets.

How do you deal with changes in a construction project?

A Quick Guide to Managing Change Orders in Construction Get Clarity on Scope of Work. Review the Construction Contract. Get Written Approval for All Change Orders. Communicate With Stakeholders. Understand the Impact of Change Orders. Final Thoughts on Change Orders.

What is the purpose of an addendum?

The function of an addendum is to modify, clarify, or nullify a portion of the original document, which could be as simple as extending the dates for which the contract is valid or as complex as redefining the payment schedules and deliverables.

How do you write an addendum to a construction contract?

How to write an addendum to a contract Consider and mirror the language of the original contract. Choose an addendum title. Make clear the parties involved. Clarify the part of the original contract the addendum refers to. Ensure compliance with the original contract and all other relevant regulations.

What is an addendum in construction?

Addendum (Addenda) Written information adding to, clarifying or modifying the bidding documents. An addendum is generally issued by the owner to the contractor during the bidding process and as such, addenda are intended to become part of the contract documents when the construction contract is executed.

What are the three types of change orders?

What are the types of change orders? The four most common types of change orders in construction are: lump sum (when the change can be quantified in price); zero cost (no change in price); time and material (cost cannot be estimated); and unitary cost (a change in scope that can be defined by measurement units).

Why would you need an addendum for a contract?

Contract addendums are typically used when: A date adjustment is necessary. A specific term or condition isnt working out for either party. A clause requires adding or removing. A job description in an employment contract requires a change. A deadline extension is necessary. Terms of an apartment lease have changed.

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Replace Calculations into the Construction Contract