Preliminary Study of Relational Contract in Construction[J]. Journal of Civil and Environmental Engineering, 2006, 28(3): 123-126. DOI: 10.11835/j.issn.1674-4764.2006.03.033.
The interest of the parties in construction industry is detached under the traditional contracting model.Non-cooperation
malignant competition and suits bring on high exchange cost
wasting of resources and higher risks.As a new contracting model
relational contract aggregates all parties' interest objective and circulates under a flexible agreement frame.It includes Partnering
Alliance
Long-term Contract and Joint-Venturing with their own characters and merits.This paper analyzed the obstacles of applying relational contract in practice in China and puts forward the corresponding countermeasures.