DocumentCode
2430426
Title
Notice of Retraction
Countermeasures of Payment Risk in Construction Contract
Author
Wang Fei ; Wang Shilei ; Guo Yan
Author_Institution
Sch. of Econ. & Manage., Hebei Univ. of Eng., Handan, China
fYear
2010
fDate
7-9 May 2010
Firstpage
5129
Lastpage
5131
Abstract
Notice of Retraction
After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.
We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.
The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.
The contractor lacks of identification ability of risks in construction contracts, which result in loopholes and risks that could be avoid in the signing and implementation process of the instruction contract. Due to lack of identification and prevention of these risks, lead to the losses of the contractors in the project construction courses. To the contractor, the significant risk is the owner´s payment risks. It is a universal phenomenon there exist plenty of owners in arrears with project payment or repudiate payment, which result not only from insufficient management of contractors, but also closely related to the credit of owners. This paper firstly elaborate contract management of construction project, and then analyze the risk of construction contract and put emphasize on employer payment risk. Finally, point out that employer payment bond is an effective method of risk transferring in preventing employer arrear, to ensure the profitability and construction can be carried through smoothly.
After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.
We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.
The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.
The contractor lacks of identification ability of risks in construction contracts, which result in loopholes and risks that could be avoid in the signing and implementation process of the instruction contract. Due to lack of identification and prevention of these risks, lead to the losses of the contractors in the project construction courses. To the contractor, the significant risk is the owner´s payment risks. It is a universal phenomenon there exist plenty of owners in arrears with project payment or repudiate payment, which result not only from insufficient management of contractors, but also closely related to the credit of owners. This paper firstly elaborate contract management of construction project, and then analyze the risk of construction contract and put emphasize on employer payment risk. Finally, point out that employer payment bond is an effective method of risk transferring in preventing employer arrear, to ensure the profitability and construction can be carried through smoothly.
Keywords
construction industry; contracts; profitability; risk management; construction contract; employer payment risk; owner payment risk; profitability; project construction; risk identification; Buildings; Companies; Construction industry; Contracts; Economics; Materials; Risk management; Construction Contract; Contract Risk; Contractor; Employer Payment Bond; Employer Payment Risk;
fLanguage
English
Publisher
ieee
Conference_Titel
E-Business and E-Government (ICEE), 2010 International Conference on
Conference_Location
Guangzhou
Print_ISBN
978-0-7695-3997-3
Type
conf
DOI
10.1109/ICEE.2010.1287
Filename
5592365
Link To Document