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Starting in 2020, the AIAC engaged technology industry players in a virtual roundtable, which led to a survey to gauge the industry’s wants and needs. As a result of these two research initiatives, the AIAC decided to launch the AIAC Technology Expert Committee (TEC) with the aim of drafting standard form contracts related to technology. As a result, the TEC was formed, and the AIAC along with the TEC Members drafted the TEC Standard Forms – Software Development Contract (TEC SFs – SDC), the draft of which was showcased at the AIAC’s ASIA ADR WEEK 2021. The final TEC SFs – SDC is now freely available to download and use.
The purpose of the TEC is to spearhead initiatives related to ADR and the technology industry. The TEC aims to create a community in which lawyers and key players within the technology industry can discuss recent developments, brainstorm solutions to current issues, collaborate with one another on projects and disseminate information on the advancement both within ADR and the technology industry. The TEC activities will include publications of articles and white papers, creation of standard form contracts, promotional roadshows, opportunities to pitch new technology to end-users, evening talks, roundtables, discussions, seminars and workshops.
On 19th November 2021, the AIAC’s Tech Expert Committee (“AIAC TEC”) launched its Standard Forms – Software Development Contract (“SFs – SDC”). The AIAC TEC SFs – SDC aims to provide an easy-to-use and helpful template, encompassing the best industry practices and ensuring that the rights and obligations of the stakeholders involved are balanced.
To find out more about the AIAC TEC SFs – SDC, watch the videos from the launch above and in the Key Features section. In addition, a written interview on the key features and how to customise the SFs – SDC is in the AIAC’s Newsletter December 2021 #03, which can be found here, pg 9 – pg13.
For any questions, please contact TEC@aiac.world.
|Removal of Distinction between With and Without Quantities||The AIAC 2019 TEC is a comprehensive unified contract that does away with the need to distinguish between With and Without Quantities. Users can now customize the contract to meet their specific needs.|
|Contract Administrator (“CA”)||The AIAC 2019 TECs provide the Parties with the option to select a CA and to decide the roles accordingly. If no CA is designated, then by default the Architect will be the CA.|
|Contract Sum||The Contract Sum incorporates Lump Sum and any re-measurements, or other type of valuation as agreed between the Parties, to provide for better clarity.|
|Valuation Rules||The 2019 AIAC TEC makes the valuation of any Variation, and of work executed by the Contractor pursuant to Contract Administrator’s Instruction, to be more precise. The Parties may determine the percentage of change that would still allow the Schedule of Rates to apply when there is a Variation. Absent such decision, it will be fixed at 12%.|
|Time Impact Events||The AIAC 2019 TECs expand the Non-Employer’s Events to include industrial action by workmen, strikes, lock-outs or embargoes affecting the Works or the preparation, manufacture or transportation of materials or goods required for the Works.|
|Nominated Sub-Contractor and Nominated Supplier||The AIAC 2019 TECs’ provisions on Nominated Sub-Contractors and Nominated Suppliers protect the rights of all stakeholders involved.|
|Synchronization with latest legislative regimes||The AIAC 2019 TECs incorporate the AIAC Arbitration Rules 2018 and the 2005 Arbitration Act (as amended 2018) and provide for adaptability to the latest tax regime.|
|Meaning of Practical Completion||The definition of Practical Completion has been simplified to accommodate different types of building projects and nature of works.|