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Dublin Institute of Technology

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Other Resources School of Real Estate and Construction Economics

2013-01-01

The RIAI Standard Form of Contract 2012 Edition: a Review
Tony Cunningham
Dublin Institute of Technology, tony.cunningham@dit.ie

Follow this and additional works at: http://arrow.dit.ie/beschreoth Part of the Construction Law Commons, Contracts Commons, and the Real Estate Commons Recommended Citation
Cunningham, Tony, "The RIAI Standard Form of Contract 2012 Edition: a Review" (2013). Other Resources. Paper 6. http://arrow.dit.ie/beschreoth/6

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THE RIAI STANDARD FORM OF CONTRACT - 2012 EDITION: A REVIEW Tony Cunningham
Dublin Institute of Technology School of Real Estate and Construction Economics

Introduction
The RIAI „yellow‟ and „blue‟ Forms of Contracts have been recently amended and published as the 2012 edition. The yellow form where quantities form part of the contract is identical to the 2011 edition and has been republished as the 2012 edition. The 2011 version superseded the 2002 version. This paper reviews and synopsises the provisions of the 2012 RIAI „yellow‟ form of contract and identifies the changes to the 2002 edition. The principle changes from the 2002 edition are: Value Added Tax is removed from the Contract Sum as are other references to VAT within the Contract. Prompt payment discount on Prime Cost Sums is removed as are references to trade discounts Acts of Terrorism is added to the list of exclusions in

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