The JCT has revealed some of the changes that will feature in its 2016 edition contracts. As expected, the 2016 edition will incorporate previous updates to the 2011 edition, such as those included in the JCT’s Public Sector Supplement, its CDM amendment sheets and its named specialist update. Other changes include:
- Altering the payment provisions to reflect fair payment principles and to simplify the payment regime.
- Catering for the Public Contracts Regulations 2015 (SI 2015/102).
- Extending Insurance Option C so that it allows alternative solutions to the problem of obtaining existing structure insurance for a contractor.
In terms of ancillary documents, the 2016 editions will provide for a performance bond, a parent company guarantee and for sub-contractors granting third party rights under the Contracts (Rights of Third Parties) Act 1999.
Do you welcome these changes to your own set of bespoke amendments?
If you have any further questions or queries and wish to discuss these changes in more detail, then please contact Zoe Tranter.