- 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
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