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Amirkhanian, S N and Baker, N J (1992) Expert System for Equipment Selection for Earth‐Moving Operations. Journal of Construction Engineering and Management, 118(02), 318–31.

Bernold, L E and Chang, P (1992) Potential Gains through Welded‐Wire Fabric Reinforcement. Journal of Construction Engineering and Management, 118(02), 244–57.

Diekmann, J E and Kim, M P (1992) SuperChange: Expert System for Analysis of Changes Claims. Journal of Construction Engineering and Management, 118(02), 399–411.

Dilger, W H, Tadros, G S and Giannelia, P (1992) Method Proposed for Construction of Multispan Cable‐Stayed Bridges. Journal of Construction Engineering and Management, 118(02), 273–82.

Federle, M O and Maloney, W F (1992) Substitutes for Leadership and Unionized Construction Carpenters. Journal of Construction Engineering and Management, 118(02), 332–48.

Hulme, T W and Burchell, A J (1992) Bored Tunneling for Singapore Metro. Journal of Construction Engineering and Management, 118(02), 363–84.

Kangari, R, Farid, F and Elgharib, H M (1992) Financial Performance Analysis for Construction Industry. Journal of Construction Engineering and Management, 118(02), 349–61.

Nam, C H and Tatum, C B (1992) Noncontractual Methods of Integration on Construction Projects. Journal of Construction Engineering and Management, 118(02), 385–98.

Nicholls, R (1992) Construction of Grout‐Impregnated Fabric‐Reinforced Pipes. Journal of Construction Engineering and Management, 118(02), 283–302.

Paek, J H, Lee, Y W and Napier, T R (1992) Selection of Design/Build Proposal Using Fuzzy‐Logic System. Journal of Construction Engineering and Management, 118(02), 303–17.

Tiong, R L K (1992) Strategies in Risk Management of On‐Demand Guarantees. Journal of Construction Engineering and Management, 118(02), 229–43.

  • Type: Journal Article
  • Keywords: Foreign projects; Financial management; Contract management; Risk management;
  • ISBN/ISSN: 0733-9364
  • URL: https://doi.org/10.1061/(ASCE)0733-9364(1992)118:2(229)
  • Abstract:
    When international construction expanded in the 1960s and 1970s, owners in countries in the Middle East demanded guarantees that they could draw on like cash. Contractors often had no choice but to comply. While this compliance is often a requirement and is sometimes an aid in obtaining contracts, it also exposes contractors to several types of dangers and risks, such as unfair calling of guarantees, the extend‐or‐call threat, and drain on their financial resources. These risks can be reduced if contractors would negotiate with the owners on the terms and conditions of the guarantees without touching the on‐demand principle. For example, the guarantee should be drafted so that it cannot become effective until the construction contract is in full force and effect and the owner has carried out his obligations. A clause to reduce the guarantee amount in relation to the progress of the work will limit the contractor's liability. If a contractor must face an unfair call, the contractor can attempt legal action to prevent the issuing bank in its country from honoring an unfair call on the guarantee.

Tiong, R L K, Yeo, K and McCarthy, S C (1992) Critical Success Factors in Winning BOT Contracts. Journal of Construction Engineering and Management, 118(02), 217–28.

Touran, A and Wiser, E P (1992) Monte Carlo Technique with Correlated Random Variables. Journal of Construction Engineering and Management, 118(02), 258–72.