Finance:Contract B
Contract B is a concept in Canadian law. A Contract B is formed when an Owner formally accepts a Bid or, colloquially, a submission of price. Only a single Contract B is formed between the Owner and the successful bidder. The term Contract B is used to differentiate the actual construction contract from the tender contract or Contract A (a concept introduced by the Supreme Court of Canada, in R. v. Ron Engineering and Construction (Eastern) Ltd).[1] Tied to the concept of Contract A, Contract B is a place holder in the concept, a marker at the end of a formalized process of equitable treatment of both bidders and owners.[2] In many ways it is more of an academic detail within the Contract A - Contract B concept, but can also be thought of as a label for the actual construction contract.
See also
- Contract A
- Request For Proposal
- reverse auction
References
- ↑ Marston, Donald. Law for Professional Engineers: Canadian and Global Insights (5 ed.). Mc Graw Hill. pp. 131-139. ISBN 126013590X.
- ↑ Government Procurement, Fourth Edition, by Paul Emanuelli, p. 125, Published by Lexis Nexis Canada, Year of Publication: 2017, ISBN:978-0-433-47454-8
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