A Construction Contract for the Year 2000

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Title: A Construction Contract for the Year 2000

Author(s): Myles A. (Tony) Murray

Publication: Concrete International

Volume: 15

Issue: 6

Appears on pages(s): 60-61

Keywords:

Date: 6/1/1993

Abstract:
The evolution of the award of construction contracts has been dictated by societal culture. In all cases in which the economic engine is driven by the capitalist system there has been some risk on the contractor's part. The penalties for failure were at one time far more devastating than they are today. In ancient Babylon, where the construction contracts were awarded as design/build contracts, the law of the land specified that if the dwelling or any part thereof failed and injured a member of the owner's family, a like member of the builder's family would be injured in the same manner.