Revision as of 22:55, 30 January 2019

This note provides a brief description of the key distinguishing features of a construction contract of in a project's life cycle.

Synonyms

Computational Construction Contract.

Definition

This is the definition of a basic construction contract. Please observe this is highly simplified.

Contract Structure

The JCT DB 2016 building contract, for example, is structured as follows:

Parties

Employer
Employer's Agent
Principal Contractor
Principal Designer

Payments

By Stage Completion
includes a Retentions
- Retention is a percentage (often 5%) of the amount certified as due to the contractor on an interim certificate, that is deducted from the amount due and retained by the client. The purpose of retention is to ensure that the contractor properly completes the activities required of them under the contract.
May include other Deductions
Has to deal with Loss and Expenses

Stages

From the RIBA Plan of Work, building contraction stages are:

0 - Strategic definition.
1 - Preparation and brief.
2 - Concept design.
3 - Developed design.
4 - Technical design.
5 - Construction.
6 - Handover and close out.
7 - In use.

Processes

A number of certifications, including:

Interim certification
Practical Completion Certification
Final Completion Certification

Application

Description of cases and application with steps-by-step explanations. This includes Examples with scrips, computer code or mathematical model illustrating the application in the many design development platform available (listed in alphabetical order). For each platform (Dynamo, Grasshopper, Processing, etc.), one might find internal and external links.

R3 Corda

Some development in R3 Corda can be found here:

https://github.com/constructionblockchain

In particular the R3C_AEC-F_CTR-CNT module. There you can find a Klotin code that represents a milestone ina job:

 1 /**
 2  * @param description the description of the work to be carried out as part of the milestone.
 3  * @param amount the amount paid for completing the milestone.
 4  * @param status the current status of the milestone.
 5  */
 6 @CordaSerializable
 7 data class Milestone(
 8         val description: String,
 9         val amount: Amount<Currency>,
10         val status: MilestoneStatus = MilestoneStatus.UNSTARTED)
11 
12 @CordaSerializable
13 enum class MilestoneStatus { UNSTARTED, STARTED, COMPLETED, ACCEPTED, PAID }