Term contract
New Engineering Contract (NEC) Option G: Term Contract, is a contract for the appointment of consultants.
It provides for the appointment of a consultant for an agreed period of time based on a priced task schedule and staff rates for different grades of staff. Prices on the task schedule are either a lump sum for that item, or may be carried out on a time basis. The consultant bears the risk of being able to perform the tasks at the agreed prices.
When the client wants the services to be carried out they are simply selected from the task schedule and the consultant is instructed.
If the client wants the consultant to carry out services that are not on the task schedule, they are notified as compensation events (similar to relevant events on other forms of contract). This will result additional payment being made, priced using the compensation event assessment procedure.
NB The Chartered Institute of Procurement & Supply (CIPS) Glossary of procurement terms, defines term contracts as: ‘Contracts written to last a period of time and include agreed terms.’
[edit] Related articles on Designing Buildings Wiki
- Appointments.
- Compensation event.
- Contract.
- NEC Option A: Priced contract with activity schedule.
- NEC Option B: Priced contract with bill of quantities.
- NEC Option C: Target contract with activity schedule.
- NEC Option D: Target contract with bill of quantities.
- NEC Option E: Cost reimbursable contract.
- NEC3.
- Procurement route.
- Relevant event.
Featured articles and news
A New Year, a new look for BSRIA
As phase 1 of the BSRIA Living Laboratory is completed.
A must-attend event for the architecture industry.
Caroline Gumble to step down as CIOB CEO in 2025
After transformative tenure take on a leadership role within the engineering sector.
RIDDOR and the provisional statistics for 2023 / 2024
Work related deaths; over 50 percent from constructuon and 50 percent recorded as fall from height.
Solar PV company fined for health and safety failure
Work at height not properly planned and failure to take suitable steps to prevent a fall.
The term value when assessing the viability of developments
Consultation on the compulsory purchase process, compensation reforms and potential removal of hope value.
Trees are part of the history of how places have developed.
The increasing costs of repair and remediation
Highlighted by regulator of social housing, as acceleration plan continues.
Free topic guide on mould in buildings
The new TG 26/2024 published by BSRIA.
Greater control for LAs over private rental selective licensing
A brief explanation of changes with the NRLA response.
Practice costs for architectural technologists
Salary standards and working out what you’re worth.
The Health and Safety Executive at 50
And over 200 years of Operational Safety and Health.
Thermal imaging surveys a brief intro
Thermal Imaging of Buildings; a pocket guide BG 72/2017.
Internally insulating a historical building
An experimental DIY approach using mineral thermal lime plaster.
Tree species selection for green infrastructure: A guide for specifiers.
The future of the Grenfell Tower site
Principles, promises, recommendations and a decision expected in February 2025.