Risks or chances not identified in the contract agreement could lead to an increased financial risk to the contractor. No project is undertaken without some form of contract. The form of the contract can be controversial, with preferences given to certain standard forms such as FIDIC, NEC, JCT, ICE, etc. However, it is the content of the contract, detailing the risks and chances, that should be scrutinised more thoroughly.

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Published in The Civil Engineering Contractor