Website Upgrade Incoming - we're working on a new look (and speed!) standby while we finalise the project

Tips on using this forum..

(1) Explain your problem, don't simply post "This isn't working". What were you doing when you faced the problem? What have you tried to resolve - did you look for a solution using "Search" ? Has it happened just once or several times?

(2) It's also good to get feedback when a solution is found, return to the original post to explain how it was resolved so that more people can also use the results.

Terminal Float

2 replies [Last post]
Tue, 2009-11-03 07:15
Francis Moyalan, ...
User offline. Last seen 5 years 27 weeks ago. Offline
Joined: 12 Feb 2005
Posts: 105
Groups: None
Hi Pals,

Can anyone elaborate on Terminal Float and what are its contractual implications?

Cheers
Top

Replies

Tue, 2009-11-03 08:27
#1
Rafael Davila
User offline. Last seen 1 week 3 days ago. Offline
Joined: 1 Mar 2004
Posts: 5241
Groups: Spider Project Team
http://www.brewerconsulting.co.uk/cases/CJ0634CL.htm
Top
Tue, 2009-11-03 07:39
#2
Gary Whitehead
User offline. Last seen 5 years 24 weeks ago. Offline
Joined: 24 Mar 2009
Posts: 1215
Groups: Building Information Modelling, Content Moderators, Petro-Chem / Oil & Gas, The GrapeVine
Francis,

Some forms of contract (eg NEC) recognise the Terminal Float concept, and some don’t.

Terminal float is the difference between a contractor’s planned completion date, and the contractual completion date, as per the latest approved programme.
(I am not sure of hand if this difference is expressed in calendar days or normal working days)

Terminal float is available for use solely by the contractor.
This means, if there is any delay to a contractor’s planned completion, for which the contractor is not responsible, the contractual completion date must be pushed back so that the amount of terminal float available to the contractor remains constant.


(Simplified) Working example:

1) Contract is let, with completion required by week 100.
2) Programme is approved showing planned completion week 90, and 10 weeks of Terminal Float.
3) Client is 2 weeks late in granting access to site. 1 week of this delay is absorbed through free float, the other week causes the contractors planned completion to be delayed to week 91.
4) Contractual completion date is moved back to week 101, thus retaining the contractor’s original 10 weeks of terminal float.


Cheers,

G
Top