COMPARATIVE STUDY ON DIFFERENT APPROACHES IN SELECTING MOST SUITABLE CONTRACTING METHOD FOR ROAD CONSTRUCTION

The contract is a promise between two parties enforceable by law. This promise may be do something, for making a contract requires the common assent of two or more persons one who making an offer and other one is accepting that offer. If one of them fails to keep the promise the other is entitled to legal compensation. In India, Indian contract act 1872 describe the law related to contract. The objective of this paper is to identifying critical factors causing selection of type of contract for road work and conducting a comparative analysis of identifying factors according to this factors determine most suitable type of contract. It helps to reduce the conflict between two parties and also reduce time cost overrun. It concludes that the EPC model is most suitable and preferable type of contract for highway construction. An Engineer and client are given first preference to EPC model, the contractor gave first preference to BOT and BOOT model and second to EPC, third fourth for design build and public private partnership respectively.