ICONTRACT TECHNOLOGIES

iContract Technologies is at the forefront of developing automatic intelligent construction contracts. Construction is both an art and a science. Most construction projects can be classified as prototypes as they will only ever be built once and not replicated. It is one of the most de-centralised industry in the world due to the sheer volume of stakeholders involved in any given project which makes it extremely complex. ​The benefits to be made from an Intelligent Contract will be seismic. Gr... eater administrative efficiency will reduce costs and lead to less minor disputes. Surety of payment will lead to an increase in smaller companies operating with greater confidence in the sector. Transparency of contract terms will drive collaboration and make the industry more attractive to all stakeholders’ due to the greater definition of risk within any project. The margins within the construction sector is so low and the industry has not improved production rates enough, adding to the already adversarial nature of the culture where people have to fight over de-risking their position. iContract Technologies will offer a new approach that will demand transparency and collaboration therefore de-risking the industry, people will open up and be able to operate in a more collaborative and transparent fashion leading to global supply chains and gains in efficiencies of contract administration. Clients will have more certainty over the delivery of the projects. ​ Research and Development has been carried out in collaboration with PhD researchers at the University of New South Wales since 2017.More