JCT Measured Term Contract Guide 2016
Publisher one
ƵSource file
Jurisdiction
England and WalesCost
Free to useRelevant sectors
Type of legal document
🏡 Measured term contractBusiness activity
Create a contractA measure term contract is an agreement between two parties in which one agrees to provide a specified amount of goods or services to the other at agreed-upon intervals over a set period of time. This type of contract is often used in business arrangements where one company agrees to provide another company with a set amount of goods or services on a regular basis.
A measured term contract refers to a construction contract where payment is determined based on the actual quantities of work done or materials used, rather than a fixed price. This contract type is commonly used in the construction industry for projects that are difficult to quantify accurately upfront or involve ongoing maintenance and repairs.
The JCT Measured Term Contract Guide 2016 provides a framework for both the employer (client) and the contractor, establishing the rights, obligations, and responsibilities of each party throughout the contract term. It covers a wide range of aspects including scope of work, payment terms, variations to the work, timeframes for completion, dispute resolution, insurance, and health and safety requirements.
Under the UK law, this template follows the regulations and legal requirements specific to the construction industry in the United Kingdom. It ensures that both the employer and the contractor understand the legal implications and have a standardized agreement in place to protect their interests and resolve any potential disputes that may arise during the project.
Overall, the JCT Measured Term Contract Guide 2016 under UK law is a crucial document that facilitates the smooth execution of measured term contracts in the construction industry, providing clarity and transparency in terms of contractual obligations, payment terms, and legal provisions to ensure a fair and mutually beneficial relationship between the parties involved.
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