The Joint Contracts Tribunal (JCT) has made the 2016 Edition of its Collateral Warranty documents available for pre-order from its online store, www.jctltd.co.uk.
The Collateral Warranty documents available for pre-order include:
- Contractor Collateral Warranty for a Funder (CWa/F)
- Contractor Collateral Warranty for a Purchaser or Tenant (CWa/P&T)
- Sub-Contractor Collateral Warranty for a Funder (SCWa/F)
- Sub-Contractor Collateral Warranty for a Purchaser or Tenant (SCWa/P&T)
- Sub-Contractor Collateral Warranty for the Employer (SCWa/E)
JCT users are able to pre-order the Collateral Warranty documents now for despatch on 21st November 2016.
New features of the JCT 2016 Edition include:
- Incorporation of the provisions of the JCT Public Sector Supplement 2011 that relate to Fair Payment, Transparency & BIM.
- Adjustments to reflect the Construction (Design & Management) Regulations 2015 and the Public Contracts Regulations 2015.
- Amendments to the works and existing structures insurance provisions to make them more flexible.
- Revision and simplification of the Section 4 Payment provisions, including:
- Establishing (for Fair Payment purposes) Interim Valuation Dates that apply to main contract, sub-contract and sub-subcontract levels
- Increasing flexibility in relation to fluctuations provisions
- Consolidating the notice requirements of the Housing Grants, Construction & Regeneration Act 1996.
- Inclusion of provisions for the grant of Performance Bonds and Parent Company guarantees.
- Extension of the optional provisions for Collateral Warranties from sub-contractors to include Third Party Rights.
To keep up to date with the release of JCT 2016 Edition contracts, and for information about the JCT 2016 Edition, users are encouraged to join the JCT Network, by visiting http://corporate.jctltd.co.uk/jct-network.