1.CONTRACT
- A contract is a written or oral legally binding document between client and contractor .
- Historically, this was most commonly achieved through signatures.
- But with the advancement of electronic- commerce, the forms of acceptance have expanded to include various forms of electronic signatures.
2.TYPES OF CONTRACTS
a. Sales
contract.
b. Purchase
contracts.
c. Partnership
agreements.
d. Trade
contracts.
e. Construction
contracts:-
(a)Percentage rate contract on S.O.R.
(b)Item rate contract.
(c) Lump- sum contract.
3.NEED OF CONTRACT ADMINISTRATION IN CONSTRUCTION
PROJECT
—It
is the subset of contract management.
—The
luck of the projects closely relates to
the contracts rightly prepared.
—Contract
management and contract administration are the integral parts of any projector
business in general.
—Contract
administration is the active management of relationship between the client and
the contractor .
—Over
the full term of the contract to achieve the agreed standards right from
beginning to the completion of the contract.
For more information about it, contact
Prof. J. S. Kushwah
