YaBeSH Engineering and Technology Library

    • Journals
    • PaperQuest
    • YSE Standards
    • YaBeSH
    • Login
    View Item 
    •   YE&T Library
    • ASCE
    • Journal of Legal Affairs and Dispute Resolution in Engineering and Construction
    • View Item
    •   YE&T Library
    • ASCE
    • Journal of Legal Affairs and Dispute Resolution in Engineering and Construction
    • View Item
    • All Fields
    • Source Title
    • Year
    • Publisher
    • Title
    • Subject
    • Author
    • DOI
    • ISBN
    Advanced Search
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Archive

    Impact of Variation in Estimated Quantity Clauses on Allocating Financial Risks in Measurement Contracts

    Source: Journal of Legal Affairs and Dispute Resolution in Engineering and Construction:;2021:;Volume ( 013 ):;issue: 004::page 04521032-1
    Author:
    Omar Alhyari
    ,
    Khaled Hesham Hyari
    DOI: 10.1061/(ASCE)LA.1943-4170.0000499
    Publisher: ASCE
    Abstract: Unit price contracts are awarded to contractors based on estimated quantities of work, while payments to contractors are based on the actual quantities performed. Deviations between such estimated and actual quantities expose contractors and owners to various amounts of financial risks. In order to reduce those risks, variation in estimated quantity (VEQ) clauses are usually found in construction contracts. There is a need to support contractors in analyzing and quantifying the financial risks associated with the terms of the applicable changed quantity clauses. This paper presents a review of the terms of VEQ clauses included in public construction contracts. Then the paper examines the impact of VEQ clauses on the distribution of financial risks associated with changes in quantities between the owner and the contractor. The paper shows significant inconsistencies between the terms and stipulations of variation in estimated quantity clauses adopted by different US public construction authorities and international construction contract forms. An illustrative example is provided to highlight and quantify the varying amounts of risks incurred by contractors, depending on the terms and conditions of the variation in estimated quantity clause imposed by the contracting public authority in the construction contract. Contractors should be able to identify and quantify these risks before submitting their bid offers. The performed analysis should prove to be useful to the contracting parties and can reduce the potential for disputes related to changes in quantities of work.
    • Download: (190.8Kb)
    • Show Full MetaData Hide Full MetaData
    • Get RIS
    • Item Order
    • Go To Publisher
    • Price: 5000 Rial
    • Statistics

      Impact of Variation in Estimated Quantity Clauses on Allocating Financial Risks in Measurement Contracts

    URI
    http://yetl.yabesh.ir/yetl1/handle/yetl/4272445
    Collections
    • Journal of Legal Affairs and Dispute Resolution in Engineering and Construction

    Show full item record

    contributor authorOmar Alhyari
    contributor authorKhaled Hesham Hyari
    date accessioned2022-02-01T22:00:08Z
    date available2022-02-01T22:00:08Z
    date issued11/1/2021
    identifier other%28ASCE%29LA.1943-4170.0000499.pdf
    identifier urihttp://yetl.yabesh.ir/yetl1/handle/yetl/4272445
    description abstractUnit price contracts are awarded to contractors based on estimated quantities of work, while payments to contractors are based on the actual quantities performed. Deviations between such estimated and actual quantities expose contractors and owners to various amounts of financial risks. In order to reduce those risks, variation in estimated quantity (VEQ) clauses are usually found in construction contracts. There is a need to support contractors in analyzing and quantifying the financial risks associated with the terms of the applicable changed quantity clauses. This paper presents a review of the terms of VEQ clauses included in public construction contracts. Then the paper examines the impact of VEQ clauses on the distribution of financial risks associated with changes in quantities between the owner and the contractor. The paper shows significant inconsistencies between the terms and stipulations of variation in estimated quantity clauses adopted by different US public construction authorities and international construction contract forms. An illustrative example is provided to highlight and quantify the varying amounts of risks incurred by contractors, depending on the terms and conditions of the variation in estimated quantity clause imposed by the contracting public authority in the construction contract. Contractors should be able to identify and quantify these risks before submitting their bid offers. The performed analysis should prove to be useful to the contracting parties and can reduce the potential for disputes related to changes in quantities of work.
    publisherASCE
    titleImpact of Variation in Estimated Quantity Clauses on Allocating Financial Risks in Measurement Contracts
    typeJournal Paper
    journal volume13
    journal issue4
    journal titleJournal of Legal Affairs and Dispute Resolution in Engineering and Construction
    identifier doi10.1061/(ASCE)LA.1943-4170.0000499
    journal fristpage04521032-1
    journal lastpage04521032-10
    page10
    treeJournal of Legal Affairs and Dispute Resolution in Engineering and Construction:;2021:;Volume ( 013 ):;issue: 004
    contenttypeFulltext
    DSpace software copyright © 2002-2015  DuraSpace
    نرم افزار کتابخانه دیجیتال "دی اسپیس" فارسی شده توسط یابش برای کتابخانه های ایرانی | تماس با یابش
    yabeshDSpacePersian
     
    DSpace software copyright © 2002-2015  DuraSpace
    نرم افزار کتابخانه دیجیتال "دی اسپیس" فارسی شده توسط یابش برای کتابخانه های ایرانی | تماس با یابش
    yabeshDSpacePersian