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Contract Conditions
Check List
1 Summary of the Project
Project Name

official name of the Project

Site Location

area/city, and country

Employer/Prime Contractor
n case VSL is sub-contractor.

Engineer/Architect

name of Engineer/Architect and country

Source of Project Fund :

other information on loan)

name of Project Owner/Prime Contractor i

type of Project Fund (owner's Own Finance and/or

Scope of work :
General Description of the Scope of VSL's work and
whole Project capacity
Agent

Name of agent involved in VSL's contract,

2 Description of the Contract

Date of Contract and Contract Number
Contract

Signing date, Effective date of

Formation for Performance of Contract :

Is VSL Sole Contractor/Subcontra
ctor or member of JV/Consortium ?
*(in case of JV/Consortium, name the members of
JV/Conso
rtium and sponsor company.)
Contract Price and its :
Prepare the separate sheets for
breakdown
:
Contract Price breakdown
Standard Conditions of :
Contract on which this
contract is based on
:
or local

mention international or national

standard contract conditions which
contract is based on such as FIDIC

Type of contract

Lump Sum or Re-measurement?

Design Work
:
included in the scope of Work or not.
Application of Main Contract conditions :
In case VSLi being subcontractor
, Main Contract
conditions is applied or not, if so, what extent?
Documents and Priority :
iority.

list of contract documents and their order of pr

3 Summary of Conditions
1) Payment
Currency
Currency of Contract
cated.

name of currency in which contract Price is indi

Payment currency

name of currency in which payment is made.

Conversion rate
:
in case of contract price being indicated in one
currency but the payment being made in multi- currencies, what is
conversi
on rate between the currencies?
Advance Payment
Time of Advance Payment :
d

time and necessity of advance payment refund bon

Method of Advance Payment

:
equal amount installment or equal percen
t installment from
interim payments
Interim Payment
Material on Site

to be included in interim certificate or not?

Frequency of Interim Payment

monthly or others. specify

Honoring Period
tificate

period in which payment is due after interim cer

Minimum amount of
Interim Payment

Retention Money
Amount for Retention Money

percent of interim payment for retention

Exclusion from Retention

:
any exclusion from retention money adjus
tment under
escalation clause or subsequent legislation clause.
Limit of Retention Money
x. (amount)

_____ % of contract price which is appro

Times of retention release

ntenance
completion ______ %

at substantial completion _____ % at mai

Retention Bond :

bond acceptable in lieu of retention money?

Fluctuation Clause
Fluctuation Clause
:
provided for or not clauses to adjust contract p
rice in respect
of rise or fall in labor or material cost.
Exceptions to reimbursement

any cost items not subject to adjustment

Adjustment formula
formula

provided or not. if provided, specify adjustment

Adjustment interval
mula

monthly, semi-annual, others Indices used in For

Indices used in Formula :

name of official index published by central bank

/statistic

agency etc.

Construction Period and Completion of Works

Effectuation of Contract
:
usually contract is effective upon
signing, Emphasize payment of Mobilization advance will effectuating the Contrac
t.
Site Possession :
whether as a whole or section by section, and specify ti
me
of site possession. Base programme must include in the contract
Commencement of Work
:
specify the period by which work shall be commen
ced after
notice to proceed.
Completion of Work

Starting Date

specify date from which completion period is calculated

completion period or completion date

Time Extension :
specify events in which VSL is entitled to extension of
time for completion and details of procedure for time
extension claim.
Completion Test :

Times when completion test is performed.

Completion Certificate :
In case VSL is subcontractor, whether Completion
Certificate from Main Contractor is subject to Client's
approval
.
Completion Certificate in sections
tional completion or milestones.

specify date(s) for separate sec

Liquidated Damages for Delay (LD)

:
percent or rate for LD per day o
r week. In case of sectional
completion, specify applicable section or portio
n and its LD
rate.
Bonus for early completion

Is Bonus clause included?

Liquidated Damages for

reduced Performance
:
In case achievement of plant being not satisfied
with guaranteed output or figure, is LD for performance
applicable to ou
r scope of work? If so, specify rate.
Defects liability Period
:
Specify starting date and completion dat
e of Defects
Liability Period. Pay attention to revolving period after
remedying defects.
Final Test
:
Whether final test is carried out at the consummation of
Defects Liability Period?
Final Certificate
:
Is any certificate issued at the consummation of
Defect
Liability Period?
Site Conditions (Mainly for RE Walls)
Soil Data

:
Is such data provided by Employer?
Dose data form part of contract documents?

Contractor's Responsibility for

Site inspection
:
Degree of site inspection required Contractor be
fore
submitting tender. (contractor's all risks, inspection as practicable or
visual inspection only)
Land for Temporary Facilities :
es?

Who provides land for temporary faciliti

Temporary Water and Electricity

y?

Other Obligations

Who provide water and electricit

Responsibility Matrix should be attached.

Bond and Insurance

Nomination by Employer :
company
or bank.

If yes, write name of Main Contractor, insurance

Advance Payment Refund Bond

Performance Bond Maintenance Bond
s
Insurance by VSL

Bond amount and Validity of bond

kind of insurance to be kept by VSL.

Insurance by Employer/
Main Contractor :
kind of insurance to be kept by Employer or Main
Contractor. If some insurance is furnished by others, pay
attention to exc
ess deductible amounts.
Excepted Risks/Force Majeure
r loss or damage.

specify risks which VSL is not liable fo

Financial Compensation
Time Extension :
is allowed, if so, what extent?
Other Conditions
Facilities to be provided to other
ract, to other contractor
contractors
.

Items to be provided, under cont

Items to be provided
:
Details of items which VSL
to Employer/Engineer
is responsible to provide to Employer/Engineer
Materials/Work Inspection
:
Details of test and inspection conducted
by
Engineer/Employer, procedure, times, cost born by VSL or
Employer?
Suspension

:
Is financial compensation allowed?
Is completion time adjusted?
Right to terminate Contract after certain period of suspension?

Variations

causes/reasons by which VSL can claim variations

Valuation of Variation :

How to adjust contract price due to variations

Construction Plant
:
Is it OK to import construction plant on re-expo
rt basis
without paying customs duties?

Procedure to re-export such plants. Employer's assistance is

provided?
Nominated Subcontractors (NSC) :
Reasonable objection by VSL allowed?
List of NSC, their scope of works and Subcontract Price.
Scope of VSL's attendance and Fee Scale. Payment to
NSC.
Rights and obligation of VSL in respect of NSC.
Remeasurement of Works :

Measurement rule to be applied.

Employer's Assistance :
Availability of Employer's Assistance in respect
of;
Import & export Permit
Berthing Priority
Tax Exemption
Government Controlled Materials
Entry Visa/Work Permit
Concession
Others
Termination by Employer :
Reasons for Employer's Right to Termination.
Provision of Termination for convenience and Extent of reimburs
ement to VSL if terminated.
Termination by VSL
:
Reasons for VSL's right to Termination.
Extent of Reimbursement to VSL if terminated.
Claim

Time limit of claim notice

Time limit of claim details

Taxes, Dues

:
kind of taxes and dues included in Contract Price.
kind of taxes and dues exempted and to be born by
Employer
/Main Contractor.
Detail procedure for tax reimbursement in case tax is not includ
ed in the price.
Subsequent Legislation :
Is Contract Price adjusted due to subsequent leg
islation?
If so, fill in "period" from which adjustment is made.
Contract language

Governing law
act.

The country or state the laws which shall apply to Contr

name of contract language

Settlement of Dispute :
Arbitration Rules, No. of Arbitrators, venue, la
nguage, period to initiate dispute etc.
Employer/Main Contractor
furnished materials :

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Items to be provided,