Common use of Construction Works Clause in Contracts

Construction Works. a) Construction all risks, owner-controlled1, for each building under construction, based on full contract value and including: (i) strike, riot & civil commotion; (ii) debris removal; (iii) extra expenses; (iv) extended maintenance period; (v) third party liability; and (vi) designer’s risks. b) Marine cargo (including war) on transportation of key plant/equipment, unless shipments are on CIF2 project site (or comparable) basis. c) Advance loss of profits covering debt service (including principal and interest), fixed costs and increased cost of working during indemnity period of twelve (12) months from the anticipated scheduled commercial operations start date.