Comparison between Traditional Construction Contract and New Engineering Contracts (NEC)
The construction industry comprises of various verticals which should function in a coherent manner to yield the best results and achieve the desired output. This mechanism can is aided via means of contract which as the guidelines to administer the project. The primary agenda is to ensure that the contract obliges the stakeholders to do the specified work. The objective of contract management is to ensure that all the parties of the contract meet their respective obligations efficiently and effectively and to protect the rights of the parties. The construction contract administration also ensures that the project is executed smoothly in all the phases i.e., from conception to operation and maintenance phase.
The standard form of contracts comprises terms and conditions that can be used for all type projects and provides flexibility to the employers as per the project specific need. The NEC contract contains data provided by employer and the data provided by the contractor, where the document provides flexibility, clarity and ease in administration.
