RTMC Model Conditions of Contract - Highways Agency

Regional Technology Maintenance ContractConditions of Contract• The period for reply is two weeks.• The Adjudicator nominating body is the President for the time being of theInstitution of Civil Engineers or his nominee.• The tribunal is arbitration• The arbitration procedure is Institution of Civil Engineers ArbitrationProcedure (2006)• The place where the arbitration is to be held is London• The person or organisation who will choose an arbitrator• if the Parties cannot agree a choice or• if the arbitration procedure does not state who selects an arbitratoris the President for the time being of the Institution of Civil Engineers or hisnominee3 Time • The starting date is……………………………………………..• The access date is……………………………………………………………..• The service period is [5] years unless modified in accordance with thiscontract.• The extension period is [3] years.• The Contractor submits a first plan for acceptance in accordance with theService Information5 Payment • The assessment interval is one calendar month• The currency of this contract is the pound sterling (£)• The interest rate is 3 % per annum (not less than 2) above the base rate ofthe Bank of England.• The Contractor prepares forecasts of the final total of the Prices for thewhole of the service at intervals no longer than one calendar month andprovides these with his application for payment• The period for payment is 30 days after the date on which payment is due8 Risks andinsurance• The minimum amount of cover for insurance against loss of or damagecaused by the Contractor to the Employer's property is £40,000,000 (fortymillion pounds)• The minimum amount of cover for loss of or damage to Plant and Materialsprovided by the Employer is £10,000,000 (ten million pounds)• The minimum amount of cover for insurance in respect of loss of or damageRTMC CoC, Issue 1, Rev 0 July 2011