ICC Term Version Guidance Notes - August 2011

These Guidance Notes have been prepared to assist users of the ICC Term Version in the preparation of contract documents and the carrying out of the contract works. They are not intended to provide legal interpretation and do not form part of the contract.
The Guidance Notes explain the intended use for the Term Version and the overall concept for which the contract is suited. Operation of the contract and the use of Works Orders is explained. The tendering procedure and matters to be considered in the preparation of tender documents is outlined. There is focus on key contract clauses, potential payment arrangements including the requirements of current payment legislation and the avoidance and settlement of disputes. Comment is also provided on the Form of Bond and the provisions for Contract Price Fluctuation.

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