Meng, X (2002) Guarantees for contractor's performance and owner's payment in China. Journal of Construction Engineering and Management, 128(3), pp. 232-237. ISSN 0733-9364
Abstract
This paper first analyzes the problem of default risk that contractors and owners often face in China, then stresses that establishing a construction contract guarantee system is a necessary and effective measure for solving this problem. Policy choice for establishing a construction contract guarantee system in China is presented in this paper by using the experience of developed countries for reference and taking Chinese domestic circumstances into account. Further discussion is included about how to protect contractors from default of payment of owners by exercising the right of legal mortgage in accordance with Chinese contract law.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | China; contractors; owners; payment |
| Index terms: | construction contract, owner, mortgage, contract law, China, developed country, face, default, guarantee |
| Subjects: | dispute resolution, contract type, economic analysis, psychology, development economics, Geography, contract law, contract structure, sociology |
| Topics: | Business Strategy, Geographical Context, Stakeholder Management, Procurement, Legal Issues, International Construction, Organizational Design |
| Descriptive scope: | 2 PC |
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