Course duration: 1 Day
Cost: £325 + VAT
This course will cover the following key topics:
1. Understanding Revision 5
• Analysing the changes included in revision 5
• What do these changes mean to you?
2. The format of the MF1
• What does MF1 contain?
• What are its benefits?
• How is it laid out?
• How does it relate to other contracts?
• The different revisions and the reasons for them
• Scope for the use of MF1; and its derivatives MF2 and MF3
• Is MF1 suitable for overseas or international contracts?
3. Negotiating with MF1
• Using the standard form
• Using non-standard variants
• Understanding amendments proposed by other parties
• Using the appendix
• Using the aide-memoire for special conditions
• Altering the order of precedence of documents
• Using the special conditions provided for specific types of contract
4. Key clauses
• Key clauses about obligations
• Key clauses that assist good project management
• Key clauses that may affect the contract value
• Key clauses about time, progress and delay
• Practical clauses
• The variations clause
5. Title to goods: insurance and indemnities
• When does title pass?
• Why does this matter?
• What are the insurance obligations and the different types of insurance to be affected?
• Who indemnifies whom and in what respects?
• What are the agreed risks of the parties?
6. Testing and handing over
• The three different types of test and their implications
• ‘Taking over’: when it occurs and what it means
• ‘Performance tests’: what are they and what does MF1 provide for?
• How do liquidated damages relate to tests?
• Understanding the special conditions
7. Defects liability and limits of liability
• The provisions about defects liability
• Limits of liability
• The commercial realitiesø
8. MF1 documentation
• The MF1 Form of Agreement
• The MF1 Form of Variation Order
• The MF1 Form of Performance Bond
9. Summing up
• Evaluation of MF1
• Open forum for questions