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Standard Building Contract 2016Standard Building Contract Without Quantities 2016 JCT Fluctuations Options B and C JCT Fluctuations Option B (Labor and materials cost and tax fluctuations) Deemed
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Step 1: Start by obtaining a copy of the JCT Fluctuations Option B form.
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Step 2: Read the instructions carefully to understand the purpose and requirements of the form.
03
Step 3: Provide the necessary project details, such as the contract reference, project name, and employer's details.
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Step 4: Fill out the relevant information related to the fluctuations option, such as the start and end dates of the fluctuation period, the selected percentage for adjustment, and any additional details required.
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Step 5: Ensure that all the information filled in is accurate and complete.
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Step 6: Review the form to verify that all the sections have been properly filled out.
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Step 7: Sign and date the form, indicating your acceptance and understanding of the conditions.
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Step 8: Submit the completed form as per the specified submission process.

Who needs jct fluctuations option b?

01
JCT Fluctuations Option B is typically needed by contractors involved in construction projects where there is a risk of cost fluctuations due to changes in market conditions or materials pricing. It allows contractors to adjust their prices based on agreed-upon percentages to account for these fluctuations.
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JCT fluctuations option B is a provision in JCT contracts that allows for adjustments to be made to the contract sum in the event of fluctuations in construction costs.
Contractors and subcontractors on a JCT contract are typically required to file JCT fluctuations option B.
To fill out JCT fluctuations option B, contractors and subcontractors must accurately report the relevant construction cost data and calculations as specified in the contract.
The purpose of JCT fluctuations option B is to provide a mechanism for adjusting the contract sum to account for fluctuations in construction costs, such as changes in material prices or labor costs.
Information such as the base date, price adjustment formula, and relevant construction cost data must be reported on JCT fluctuations option B.
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