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NEC4 Option D: Target Contract with Bill of Quantities

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ISBN: 9780727763143
Format: Paperbound
Publish Date: 22/07/2017
Publisher: Thomas Telford Ltd
Number of Pages: 82

The NEC4 Option D is a target contract with bill of quantities. The target cost is calculated from the bill of quantities supplied by the cost consultant based on drawings and specifications in the tender document. In this contract, the financial risks be they cost savings, or cost overruns are shared between the Client and the Contractor in an agreed proportion.

This document contains all the core and secondary option clauses, the schedules of cost components, and contract data relevant to an option D contract.

Price: £51.50

Core Clauses

1 General
2 The Contractor’s main responsibilities
3 Time
4 Quality management
5 Payment
6 Compensation events
7 Title
8 Liabilities and insurance
9 Termination

Resolving and Avoiding Disputes
Option W1
Option W2
Option W3

Secondary Option Clauses
Option X1: Price adjustment for inflation
Option X2: Changes in the law
Option X4: Ultimate holding company guarantee
Option X5: Sectional Completion
Option X6: Bonus for early Completion
Option X7: Delay damages
Option X8: Undertakings to the Client or Others
Option X9: Transfer of rights
Option X10: Information modelling
Option X11: Termination by the Client
Option X12: Multiparty collaboration (not used with Option X20)
Option X13: Performance bond
Option X14: Advanced payment to the Contractor
Option X15: The Contractor’s design
Option X16: Retention
Option X17: Low performance damages
Option X18: Limitation of liability
Option X20: Key Performance Indicators (not used with Option X12)
Option X21: Whole life cost
Options X3, X19 and X22 are not used
Option Y(UK)1: Project Bank Account
Option Y(UK)2: The Housing Grants, Construction and Regeneration Act 1996
Option Y(UK)3: The Contracts (Rights of Third Parties) Act 1999
Option Z: Additional conditions of contract

Schedule of Cost Components
Contract Data
Part one – Data provided by the Client
Part two – Data provided by the Contractor

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