Home / Construction

Legal News

JCT announces plan to introduce new Target Cost Contract at Parliamentary Reception

Copyright © 2025 LexisNexis

Published on: 16 April 2025

Published by LNB News

LNB News 16/04/2025

Document Information

Issue Date: 16 April 2025

Published Date: 16 April 2025

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Joint Contracts Tribunal (JCT) has announced its plan to unveil its new Target Cost Contract, part of the JCT 2024 Edition, at the annual Construction Industry Parliamentary Reception, being held on 13 June 2025. This contract, which includes a main contract, sub-contract, and guides, is designed for projects using target cost and difference sharing arrangements. The remuneration method involves payment of an 'allowable cost', a 'contract fee' and potentially a 'difference share'. JCT is also preparing online resources to aid users in implementing the contract. The Reception will celebrate JCT's achievements and preview these resources.

Popular documents

Scotland—the process for applying for sequestration

Scotland—the process for applying for sequestrationSequestration in Scotland is the legal process by which an insolvent debtor’s estate is gathered in, realised and then distributed among their creditors by a trustee appointed for that purpose. The process requires that a formal award of

What is the difference between an appeal and a review?

What is the difference between an appeal and a review?What is an appeal?An appeal in insolvency proceedings is no different to an appeal in normal litigation. An appeal will be allowed only if the appeal court is satisfied that the decision of the lower court was 'wrong' or 'unjust because of a

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

Where are misrepresentations made? Jurisdictional traps for the unwary (Bellmare Holdings Ltd v Wells)

Dispute Resolution analysis: The High Court has provided concise guidance as to how misrepresentation should be analysed when considering jurisdictional gateways. Under Article 5(3) of the Lugano Convention, in negligent misstatement cases, the place of the event giving rise to damage is normally