Recent

  • Show all results for ""

🎧 New: AI-Generated Podcasts Turn your study notes into engaging audio conversations. Learn more

R 2017 - 13
37 Questions
2 Views

R 2017 - 13

Created by
@AstoundedHamster

Podcast Beta

Play an AI-generated podcast conversation about this lesson

Questions and Answers

According to the text, when may the Engineer instruct the Contractor to submit quotations from the Contractor’s suppliers and/or subcontractors?

  • When the Engineer feels like doing so
  • When instructing the Contractor under sub-paragraph (a) and/or (b) (correct)
  • When the Contractor requests for quotations
  • When the work is of a major nature

    • What happens if the Engineer does not respond within 7 days of receiving the quotations from the Contractor?

  • The Contractor must proceed without the Engineer's approval
  • The Contractor is entitled to accept any of these quotations at the Contractor’s discretion (correct)
  • The Engineer's silence is considered as rejection of all quotations
  • The Contractor must resubmit the quotations

    • When does the Sub-Clause 13.5 about Daywork apply?

  • If a Daywork Schedule is included in the Contract (correct)
  • If the Engineer feels it is necessary
  • Only for major construction projects
  • For all types of work, irrespective of nature

    • What does the Engineer instruct for work of a minor or incidental nature?

    <p>A Variation to be executed on a daywork basis</p> Signup and view all the answers

    What does a Statement that includes a Provisional Sum also include?

    <p>All applicable invoices, vouchers and accounts or receipts in substantiation of the Provisional Sum</p> Signup and view all the answers

    When may the Engineer respond by giving a Notice instructing the Contractor to accept one of the quotations from the Contractor’s suppliers and/or subcontractors?

    <p>After receiving quotations following an instruction to the Contractor</p> Signup and view all the answers

    How is the work valued if a Daywork Schedule is included in the Contract?

    <p>In accordance with the Daywork Schedule</p> Signup and view all the answers

    Which of the following is NOT a requirement for the Statement submission?

    <p>Inclusion of the Contractor's bank details for payment processing</p> Signup and view all the answers

    What is the amortisation rate for deductions in the specified currencies and proportions of the advance payment?

    <p>25%</p> Signup and view all the answers

    Which Sub-Clause covers adjustments for changes in Laws?

    <p>Sub-Clause 13.6</p> Signup and view all the answers

    What is the limit of Retention Money for deductions stated in the Contract Data?

    <p>Not specified in the text</p> Signup and view all the answers

    Under which Sub-Clause are adjustments for changes in Cost covered?

    <p>Sub-Clause 13.7</p> Signup and view all the answers

    What is the sequence for expressing the applicable items in the Statement?

    <p>General Conditions, deductions, changes in Laws, changes in Cost, retention, estimated contract value, advance payment, other additions and/or deductions, Provisional Sums, Plant and Materials</p> Signup and view all the answers

    What is the percentage of retention stated in the Contract Data for deductions?

    <p>25%</p> Signup and view all the answers

    What is the rate of deductions for amortisation of each IPC in the specified currencies and proportions of the advance payment?

    <p>One quarter (25%) of the amount of each IPC</p> Signup and view all the answers

    What is the purpose of including supporting documents with the Statement?

    <p>For the Engineer to investigate the amounts to which the Contractor considers entitled</p> Signup and view all the answers

    What happens if the Engineer does not instruct the Contractor within 7 days of receiving the quotations for Goods?

    <p>The Contractor can accept any quotation at their discretion</p> Signup and view all the answers

    What must the Contractor do if the daily statement provided to the Engineer is not correct?

    <p>The Contractor must submit priced statements of agreed resources to the Engineer</p> Signup and view all the answers

    Under what circumstances is the Contractor entitled to an extension of time and/or payment?

    <p>Increase in costs due to changes in laws</p> Signup and view all the answers

    When are adjustments for rises or falls in the cost of labor, Goods, and other inputs not applicable?

    <p>If cost indexation schedules are included in the Contract</p> Signup and view all the answers

    How are adjustments to prices made if the Contractor fails to complete the Works within the Time for Completion?

    <p>Using either the index applicable 49 days before the expiry or the current index, whichever is more favorable to the Employer</p> Signup and view all the answers

    What is the Contractor obligated to do before ordering Goods for work, other than those in the Daywork Schedule?

    <p>Submit quotations to the Engineer from suppliers/subcontractors</p> Signup and view all the answers

    What happens if adjustments to the execution of the Works are necessary due to a change in laws?

    <p>The Engineer may instruct a Variation or request a proposal</p> Signup and view all the answers

    What is the purpose of the Advance Payment Guarantee?

    <p>To ensure the repayment of the advance payment by the Contractor</p> Signup and view all the answers

    When should the Contractor obtain the Advance Payment Guarantee?

    <p>Before receiving the advance payment</p> Signup and view all the answers

    What happens if the advance payment has not been repaid by a specified expiry date?

    <p>The Employer may claim the amount of advance payment not repaid under the guarantee</p> Signup and view all the answers

    When does the Engineer issue an Advance Payment Certificate?

    <p>After receiving the Performance Security and the Advance Payment Guarantee</p> Signup and view all the answers

    How is the advance payment repaid?

    <p>Through percentage deductions in Payment Certificates</p> Signup and view all the answers

    What happens if the advance payment has not been repaid before the issue of the Taking-Over Certificate for the Works?

    <p>The whole outstanding balance becomes immediately due and payable by the Contractor to the Employer</p> Signup and view all the answers

    What statement should the Contractor submit after the end of the period of payment stated in the Contract Data?

    <p>A Statement to the Engineer</p> Signup and view all the answers

    What is the timeframe for the Contractor to submit a proposed breakdown of each lump sum price to the Engineer?

    <p>Within 28 days after the Commencement Date</p> Signup and view all the answers

    What is the purpose of an Advance Payment Guarantee?

    <p>To secure the advance payment amount</p> Signup and view all the answers

    When does the Engineer issue an Advance Payment Certificate?

    <p>Within 14 days after receiving the Performance Security and the Advance Payment Guarantee</p> Signup and view all the answers

    What happens if the advance payment is not repaid before the Taking-Over Certificate or termination?

    <p>The outstanding balance becomes due and payable by the Contractor to the Employer</p> Signup and view all the answers

    When must the Contractor submit a Statement to the Engineer?

    <p>After the period of payment stated in the Contract Data or at the end of each month if not specified</p> Signup and view all the answers

    What does the Repayment of the advance payment involve?

    <p>Repayment is through percentage deductions in Payment Certificates</p> Signup and view all the answers

    What is the purpose of the Advance Payment?

    <p>As an interest-free loan for mobilization</p> Signup and view all the answers

    Study Notes

    Contractor's Obligations and Adjustments in FIDIC 2017 General Conditions

    • Before ordering Goods for work, other than those in the Daywork Schedule, the Contractor must submit quotations to the Engineer from suppliers/subcontractors.
    • If the Engineer does not instruct the Contractor within 7 days of receiving the quotations, the Contractor can accept any quotation at their discretion.
    • The Contractor must provide accurate daily statements to the Engineer, including records of resources used in the previous day's work.
    • The Engineer must promptly return a signed copy of the statement if correct and agreed, or proceed to agree or determine the resources if not correct.
    • The Contractor then submits priced statements of agreed resources to the Engineer, along with applicable invoices, vouchers, and accounts for payment.
    • The Contract Price is adjusted to account for changes in laws, including taxes, overheads, and profit, if not stated in the Daywork Schedule.
    • Any increase or decrease in costs resulting from a change in laws entitles the Contractor to an extension of time and/or payment, or the Employer to a reduction in the Contract Price.
    • If adjustments to the execution of the Works are necessary due to a change in laws, the Engineer may instruct a Variation or request a proposal.
    • If cost indexation schedules are not included in the Contract, adjustments for rises or falls in the cost of labor, Goods, and other inputs do not apply.
    • The adjustment to the amount payable to the Contractor is calculated for each currency in which the Contract Price is payable.
    • If the Contractor fails to complete the Works within the Time for Completion, adjustments to prices are made using either the index applicable 49 days before the expiry or the current index, whichever is more favorable to the Employer.
    • The Contract Price and Payment are subject to various provisions and adjustments as per the FIDIC 2017 General Conditions.

    Advance Payment Clause in FIDIC 2017

    • The Contract Price is determined by the value of the Works and subject to adjustments, additions, and deductions as per the Contract.
    • The Contractor is responsible for paying taxes, duties, and fees, and the Contract Price is not adjusted for these costs except as stated in the Contract.
    • Any quantities in the Bill of Quantities are estimated and not taken as actual quantities for execution or valuation purposes.
    • The Contractor must submit a proposed breakdown of each lump sum price to the Engineer within 28 days after the Commencement Date.
    • An Advance Payment may be made as an interest-free loan for mobilization, and the amount and currencies are as stated in the Contract Data.
    • The Contractor must obtain an Advance Payment Guarantee equal to the advance payment amount at their cost and submit it to the Employer.
    • The Engineer issues an Advance Payment Certificate within 14 days after receiving the Performance Security and the Advance Payment Guarantee.
    • Repayment of the advance payment is through percentage deductions in Payment Certificates, and the Contractor must extend the guarantee's validity until repayment.
    • If the advance payment is not repaid before the Taking-Over Certificate or termination, the outstanding balance becomes due and payable by the Contractor to the Employer.
    • The Contractor must submit a Statement to the Engineer after the period of payment stated in the Contract Data or at the end of each month if not specified.

    Studying That Suits You

    Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

    Quiz Team

    Related Documents

    Red 2017-28-144-61-65.pdf

    Description

    Explore your knowledge of the obligations, adjustments, and advance payment clause outlined in the FIDIC 2017 General Conditions for construction contracts. Test your understanding of the regulations governing quotations, adjustments to the contract price, and repayment of advance payments.

    More Quizzes Like This

    R 2017 - 8
    37 questions

    R 2017 - 8

    AstoundedHamster avatar
    AstoundedHamster
    R 2017 - 14
    44 questions

    R 2017 - 14

    AstoundedHamster avatar
    AstoundedHamster
    R 2017 - 17
    37 questions

    R 2017 - 17

    AstoundedHamster avatar
    AstoundedHamster
    Y 2017 - 1
    33 questions

    Y 2017 - 1

    AstoundedHamster avatar
    AstoundedHamster
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser