Built Intelligence

Commercial Awareness Fundamentals

Commercial Awareness Fundamentals

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This series of eLearning provides an overview of the general provisions of a contract and the different types of construction contract.

In this series of online courses, you will gain a practical understanding of the key aspects of the formation of a contract, the necessary elements and what happens where there is no contract.  We will explore the different types of contracts and how various contracts deal with Design, Subcontracting, Notices and reporting Changes or Variations. 

You will learn about:

  • Understand the essential elements of a contract
  • Understand the difference between a letter of intent and a contract
  • Understand the difference between lump sum, cost plus and target cost contracts
  • Understand the difference between traditional and design & build contracts
  • Explain the payment provisions under the contract and how these are impacted by the HGCRA
  • Explain how the adjudication provisions under the HGCRA operate.