Guide to JCT Prime Cost Building Contract
Publisher one
Genie AIJurisdiction
England and WalesRelevant sectors
Type of legal document
🏰 Prime cost contractBusiness activity
Create a contractA prime cost contract is a contract in which the contractor agrees to provide all labor, materials, and equipment necessary to complete a project, and the owner agrees to pay the contractor a set price for the work. The price may be based on the actual costs incurred by the contractor, or it may be a fixed price.
The guide begins by outlining the fundamental principles underlying the JCT Prime Cost Building Contract and its application in various construction projects. It offers a thorough explanation of the key terms and definitions used within the contract, ensuring clarity and comprehension for the parties involved.
Moreover, the template provides an in-depth analysis of the contractual obligations and responsibilities of each party – the employer, the contractor, and any other relevant individuals or entities. It outlines the duties, rights, and liabilities of each party, ensuring a comprehensive understanding of their roles throughout the project's lifecycle.
This legal template also covers vital aspects such as payment mechanisms, variations and changes, project completion, and dispute resolution procedures. It discusses the procedures for valuing and certifying works, as well as the methods for assessing and reconciling any variations that may arise during the project.
Furthermore, the guide illustrates the insurance requirements, project management procedures, and other important provisions specific to the JCT Prime Cost Building Contract. Detailed explanations of the legal considerations, potential risks, and the role of bonds and guarantees are also included.
Overall, this legal template serves as a valuable resource for parties involved in construction projects governed by the JCT Prime Cost Building Contract in the UK. It aims to provide clarity, mitigate risks, and help ensure a fair and successful project outcome by promoting a thorough understanding of the applicable legal framework.
How it works
Try using Genie's Free AI Legal Assistant
Generate quality, formatted contracts with AI
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Let our Legal AI make edits for you
Ask Genie to edit your document in the same way you’d ask a paralegal. Genie makes track changes, and explains its thinking just like a junior lawyer would.
AI review
Can’t find the right template? Create the bespoke agreement in minutes by conversing with our AI and tailoring to your needs
Book your personalised demo now
Similar legal templates
Video Production Commission Agreement
The template covers essential elements related to video production, such as project scope, timeline, budget, ownership of intellectual property rights, cancellation or termination provisions, and dispute resolution mechanisms. It defines the specific services to be provided by the production company, including pre-production, filming, editing, and delivery.
Additionally, the template may include provisions related to payment terms, confidentiality and non-disclosure agreements, limitations of liability, and indemnification clauses. It also addresses issues surrounding the use of talent, locations, equipment, and third-party services, ensuring compliance with relevant laws and regulations in the UK.
The Video Production Commission Agreement aims to protect the interests of both parties by clearly outlining their respective responsibilities and expectations. By entering into this legally binding contract, the production company and client can establish a solid foundation for their working relationship, mitigating potential disputes and ensuring a smooth and collaborative video production process in accordance with UK law.
Publisher
Genie AIJurisdiction
England and WalesUnderwriting Arrangement Mandate And Commitment Letter
The template typically covers various aspects of the underwriting agreement, including the scope of the underwriter's mandate, the underwriting commitment, and the underwriting fees or compensation to be paid. Additionally, it may address the conditions under which the underwriter is expected to source potential investors, market the securities, and potentially purchase any unsold portion of the securities.
The letter may also detail other significant clauses relevant to the underwriting arrangement, such as termination provisions, representations and warranties, indemnification, confidentiality, dispute resolution mechanisms, and applicable legal jurisdiction.
By providing a standardized framework for underwriting agreements, this legal template ensures clarity, professionalism, and legal compliance for all parties involved, promoting a fair and transparent underwriting process under the UK legal system.
Publisher
Genie AIJurisdiction
England and WalesUX Designer Contract
This UX Designer contract template is designed for a commercial ux design organisation (or an individual ux designer) to use when contracting out their skills and services in exchange for payment. This contract sets out the type of ux design and ux-design-related services to be completed by the ux designer on behalf of the client, with consideration for expectations around quality and delivery timescales, as well as any mitigating circumstances. This contract allows for payment to be made by the client to the ux design firm or individual ux designer on a weekly or monthly basis but can easily be edited to account for other payment schedules and could be altered to include bonuses conditional on performance. It can also be fully customised with the details of the two parties and the duration of the contract and can be printed, downloaded and edited freely as part of our mission to open source business legals. This is a template for contractors who fit outside of the UK's off-payroll working rules (IR35).
