STANDARD FORMS

MODEL FORM MF/1

Lecture One: Adjustments to the Contract Price

• Introduction
• The meaning of 'Contract Price'
• Reasons for expressly providing for adjustment
• Matters for which the Contract Price may be adjusted
• Matters for which the Contract Price will not be adjusted
• How the Contract Price is adjusted

Lecture Two: Unexpected Site Conditions, and Claims for Extra Payments and Notification of Claims

• Works underground or involving excavation
• Informing the Engineer and obtaining approval
• Requirements of Clause 41
• Notification Procedure

Lecture Three: Valuation of Variations and Schemes for Interim Payments

• Requirements for an instruction to give rise to a variation
• Notification requirements
• Determination of the amount to be added or deducted from the Contract Price
• Limit on value of variations
• The provisions for interim payment set out in the General Conditions
• Payment for work carried out off site
• Terms of payment
• Frequency of payment and valuations of work carried out

Lecture Four: Release of Retention Monies, Payment Bonds and Effect of the Final Certificate

• Release of Retention Monies
• Advance payment guarantees
• Performance bonds
• Final Certificate of Payment to be conclusive evidence
• Matters for which Final Certificate of Payment is not conclusive evidence