In the dynamic world of the construction industry, staying up to date with the latest developments and advancements is crucial. John Burke Associates recently had the privilege of attending a prestigious event organised by the Joint Contracts Tribunal (JCT). This event provided an exclusive preview of the highly anticipated JCT 2024 Edition, unveiling significant changes that will shape the future of construction contracts. In this blog, we will dive into Graham’s experience at the event and highlight the key insights he gained.
JCT 2024 Edition: A Glimpse into the Future
The JCT 2024 Edition, set to be published next year, promises to revolutionize the way contracts are approached in the construction industry. As the current JCT 2016 Edition is widely regarded as the industry standard, the announcement of the forthcoming update generated immense excitement among attendees.
Embracing Digital Transformation
One of the central themes of JCT 2024 is the continued focus on digital working. JCT recognises the importance of adapting to the digital age. Therefore, it will publish the new edition exclusively through its Construct subscription service. Which will ensure easy accessibility and streamlined processes for users. This demonstrates JCT’s commitment to embracing digital transformation and making contracts more accessible in the modern era.
Key Updates and Changes
Several significant updates and changes were unveiled during the event, reflecting the evolving needs of the construction industry. Among the core themes of JCT 2024 are modernization, legislative compliance, and future-proofing. Let’s explore some of the key highlights:
Modernising and Streamlining
JCT 2024 addresses the need for increased flexibility and inclusivity. The introduction of gender-neutral language ensures contracts are inclusive and reflective of the diverse workforce in the industry. Additionally, the adoption of electronic notices provides more flexibility in communication, aligning with the digital era.
JCT Target Cost Contract (TCC)
JCT 2024 introduces an entirely new contract family, the JCT Target Cost Contract (TCC). Comprising a main contract, sub-contract, and guide. This addition offers a fresh approach to managing projects with a target cost framework, enhancing transparency and collaboration.
The JCT 2024 Edition incorporates essential updates to align with legislative changes. Provisions related to the Building Safety Act, Termination accounting, and payment provisions reflecting the Construction Act, and new insolvency grounds reflecting the Corporate Insolvency and Governance Act 2020 ensure that contracts remain legally compliant and protect all parties involved.
Anticipating the industry’s evolving needs, JCT 2024 incorporates changes to align with the objectives of the Construction Playbook. Additionally, previously optional supplemental provisions related to Collaborative Working, Sustainable Development, and Environmental Considerations will be incorporated into the main document, reinforcing the industry’s commitment to sustainability and responsible construction practices.
A Note from Graham
“It was a pleasure to be at the House of Commons for The Joint Contracts Tribunal Parliamentary Reception. I also had the honour of attending with the new President of the ICWCI Jerry Shoolbred and discussing ideas with JCT Chair Karen Kirkham about future amendments. It was great to hear the updates on the suite of JCT contracts and meet new people from across the industry. A fantastic day ”.