Complete 3 page APA formatted essay: Course work.This report will delve into the contractual process and suggest the most suitable form of contract that will have both parties satisfied.The Institutio

Complete 3 page APA formatted essay: Course work.This report will delve into the contractual process and suggest the most suitable form of contract that will have both parties satisfied.The Institution of Civil Engineers (ICE) sought to manoeuvre this issue and develop a contract that is satisfactory to everyone (Broome, 1999, p3). The New Engineering Contract (NEC), also known as the NEC Engineering and Construction Contract, was their solution to this problem. This contract is an official system that seeks to guide individuals in the drafting of projects. both engineering and construction, to obtain tenders and the awarding of contracts (Forward, 2002, p7). This contract details the duties and responsibilities of the clients (employers) and the contractors (employees) during the progress of the project. A Works Information is also included in the NEC. this also includes the first Contract Data, client’s information, and the second Contract Data, contractors’ information (Institution of Civil Engineers 1995, p.6).NEC is an international standard that is adopted by several countries, notably the United Kingdom. Despite being internationally recognized, there are several reasons for choosing this contract. First and foremost, NEC emphasizes on developing mutual trust and co-operation for all parties involved in the contract. The risk involved in the project is collaborated and managed by all parties leading to efficient contract management practices (Broome, 1999, p19). It fosters good management of the work detailed in the contract. It does this by ensuring both parties are in good terms with one another.Secondly, NEC as a contract is applicable in all fields that involve contracts. It is applicable in construction, engineering, maintenance and consultancy contracts (Weddell & Weddell, 2006, p4). Furthermore, this contract has several payment options that cater for the clients and

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