Did you know that CCDC 2 – ‘Stipulated Price Contract’ was just updated? Effective December 14, 2020, CCDC 2 – 2020 will be in circulation.
CCDC 2 – Stipulated Price Contract is the industry standard prime contract between Owner and prime Contractor. This contract establishes a single, pre-determined fixed price, or lump sum, for the project.
The contract outlines the high-level administrative requirements and procedures needed for construction projects, including the role and authority of the consultant, procedures for changes in the work, work by other contractors, insurance requirements, prerequisites for Ready-for-Takeover, dispute resolution procedures, early occupancy by the Owner, and more.
Operating on the basis of a stipulated price, the CCDC 2 assumes monthly progress payments and makes reference to provincial payment legislations where applicable.
The CCDC 2 contains the following sections:
- Agreement Between Owner and Contractor
- General Conditions
- General Provisions
- Administration of the Contract
- Execution of the Work
- Changes in the Work
- Default Notice
- Dispute Resolution
- Protection of Persons and Property
- Governing Regulations
- Owner Takeover
- Indemnification and Waiver
Users of the CCDC 2 should also acquaint themselves with the CCDC Master Specification for Division 01 ‘General Requirements’ as a companion document.
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