SAVINGS THROUGH SHARED RISK AND TIME & MATERIALS CONTRACTS
Abstract:When the City of London set out to rehabilitate two substantial problems in the sanitary sewer system, it quickly became apparent that an uncertain scope of work as well as high risk did not lend well to a standard tendered contract process. As this form of contract would have the contractor take on all the risk, the cost of the works would increase substantially. Instead, the City acted as the Constructor and administered Time & Materials contracts, absorbing the risk and saving both time and money.
Document Type: Research Article
Publication date: January 1, 2007
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