JCT will be hosting an online launch event, providing more information about the JCT Target Cost Contract 2024, on Wednesday, 10 September 2025.
‘Introducing the JCT Target Cost Contract 2024’ will feature JCT chair, Karen Kirkham, and vice chair of the JCT Drafting Sub-Committee, John Riches.
They will be discussing the main features of this new contract family, including how it works, why JCT decided to produce it for the 2024 Edition, how it fits in with the rest of the JCT suite, what documents are included, and more.
The event is open to members of the JCT Network, who will receive registration invites by email.
Those who are interested in registering for the event can do so by signing up to the JCT Network.
The JCT Target Cost Contract 2024 is a new contract family introduced as part of the JCT 2024 Edition.
It includes a main contract, sub-contract, and respective guides.
The Target Cost Contract is designed for construction projects where the Employer wishes to incentivise the Contractor, and which is achieved through the setting of a Target Cost and the provision of sharing arrangements (a pain and gain mechanism) in relation to the actual costs incurred.
A Target Cost Contract Hub, available on the JCT corporate website, provides further information for users, including an introductory article, Worked Examples, and video commentaries to support the Worked Examples.