Скачать или смотреть Level 6 NVQ CCOM - FORMAL AND INFORMAL CONTRACTS AND AGREEMENTS

In construction management, contracts and agreements define the responsibilities, obligations, and rights of all parties involved in a project. They provide a legal and procedural framework to manage work, risks, costs, and quality effectively.

Formal Contracts:

Legally Binding: Written agreements enforceable by law.

Detailed Terms: Include scope of work, timelines, cost, payment terms, liability, and dispute resolution.

Informal Agreements:

Less Formal or Verbal: May be agreed verbally or via simple correspondence.

Limited Legal Enforcement: May not be fully enforceable but often used for minor or short-term arrangements.

Purpose: Facilitate flexibility, quick decisions, or minor changes where formal contracts are not necessary.

Risk Consideration: Informal agreements carry higher risk if disputes arise, so they should be documented wherever possible.