Be Prepared For Smart Contracts

• Published date: 19 April 2021
• Subject Matter: Corporate/Commercial Law, Real Estate and Construction, Contracts and Commercial Law, Construction & Planning
• Law Firm: Goodman Derrick LLP
• Author: Mr Tom Pemberton

The next generation of contracts should be designed to work with MMC.

The government's new construction playbook identifies the use of digital tools and modern methods of construction (MMC) as being critical to achieving its objectives of a leaner, greener building sector. The industry cannot return to its old ways, having learned so much during the pandemic about how to build more effectively.

Contracts have a vital role to play in facilitating new ways of doing business. Many standard form contracts have their roots in precedents from the mid-20th century and in some cases much earlier. While all the leading standard forms have had a number of refreshes in recent years, and there are numerous comparatively new forms that incentivise continuous improvement and collaboration (such as the NEC4 Alliance Contract), none have been...