What is the meaning of a Construction Contract?

Ans. 'Construction Contract' is a contract specifically negotiated for the construction of an asset or a combination of assets that are closely interrelated or interdependent in terms of their design, technology, and function or their ultimate purpose or use, and it includes:

(a) Contract for the rendering of services which are directly related to the construction of assets, i.e., services of project managers, architects, etc.

(b) Contract for destruction or restoration of assets and the restoration of the environment after the demolition of the asset.

The inter-relation or inter-dependency of assets shall be checked with reference to their design, technology, and function or their ultimate purpose or use