A

A reduction or lessening of something. Often used in the context of environmental factors such as a requirement of an environmental authority to reduce noise or other emissions. Also used in the context of leases where there is provision to reduce the rent in the event that part or all of the premises become unusable. It can also be used in relation to reducing a price or value if works have not been carried out to correct specifications, are incomplete, or have not been carried out at all.

The Australian Building Industry Contracts (ABIC) are a suite of building Contracts jointly published by Master Builders Australia Ltd and the Australian Institute of Architects. They are intended for use in building projects where the Contract is administered by an Architect.

Previously used for basic building works, usually small commercial projects up to $50 000, or single trade projects with a low level of complexity. This form is no longer published and has been withdrawn form sale and use. See ABIC BW-2018.

An increase in the rate of progress of a Contractor above that initially contemplated by the Contract or a construction program forming part of the Contract. The Contract may allow for the Superintendent to direct an acceleration to bring the Date for Practical Completion forward (stand alone or as an alternative to an extension of time and in each case the Contractor would usually receive Acceleration Costs). A Contractor may also decide to accelerate works in order to meet the Date for Practical Completion at its own cost.