An analysis of two engineering Forms of Contract Coursework

An analysis of two engineering Forms of Contract - Coursework Example These benefits are in terms of cost b saving, improvement of quality of both services and products, and time-saving. The very first NEC contract was published in 1993. The abbreviation NEC stands for New Engineering Contract. This new type of engineering contracts was a radical shift from the traditional contracts that existed before the year 1993. Unless the previous contracts, this contract is written in plain language. The contract abandoned the frustrating nature of the previous engineering projects and concentrates on stimulating the parties involved. After the first edition of NEC contract, the second edition was published. This new edition was called the NEC Engineering and Construction Contract. This was only two years after the NEC contract was published. This new NEC contract had Adjudicators Contract, a new professional service and subcontracts together with a set of back-to-back short forms. In April 2013, this suite was enlarged and updated. The new move saw the total number of documents making it rise to 39 documents. These documents included Professional Services Short Contracts and a set of enhanced guidance documents. The professional services short contracts are the standard form used to appoint project managers by the Association of project Management. The updated NEC contract is called the NEC3. The NEC3 is recognized worldwide for its unrivaled track record. This has seen it getting endorsements from both industry and governments all around the world. Some of the major engineering projects that have been delivered by this contract within budget and on time are the venues for both the 2012 London Olympic venue and the Paralympic games venue. This projects put the NEC3 onto a whole new level. FIDIC’s standard form of contract is much older than the NEC3 contract which is quite recent. This type of contract is