News
Single-Stage Tendering – NZES Quick Takes
Introduction Single-stage tendering is a procurement method commonly utilised for allocating contracts across various sectors, with consultants and, in particular, Quantity Surveyors being instrumental in its execution and evaluation. This method involves inviting contractors to submit their bids in response…
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Open Tendering: Definition, Advantages and Challenges – NZES Quick Takes
Open Tendering is a procurement strategy that often serves as the cornerstone for contract allocation in sectors like construction, where Quantity Surveyors play a pivotal role. This approach involves a public announcement that invites contractors to submit their proposals or bids for a project. With its roots in promoting a transparent, equitable, and competitive bidding environment, Open Tendering is particularly favoured for public-sector initiatives and large private-sector projects.
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The Role of a Quantity Surveyor in Dispute Resolutions
In the bustling hive of activity that is a construction site, various professionals each play a critical role. One such professional, sometimes overlooked yet indispensable, is the quantity surveyor (QS). The quantity surveyor serves as the financial and contractual heartbeat…
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New Legislation Protects Subcontractors’ Retention Money in Construction Industry
This article outlines the construction industry’s new Construction Contracts (Retention Money) Amendment Act, which significantly benefits subcontractors. The legislation guarantees the timely and secure release of retention money and imposes strict penalties on companies and directors who fail to comply. The new rules aim to increase trust, encourage quality workmanship, and provide financial stability for subcontractors, ultimately contributing to the long-term success and prosperity of the industry.
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Key Construction Contracts in NZ
As there is much talk about building contracts and their potential changes, we thought our readers would benefit from an article outlining some key building contracts that are currently in place in New Zealand. This overview is designed to help…
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