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Construction contract review demands specialized expertise, requiring comprehensive understanding of both technical and legal aspects. While AI advancements offer potential solutions, two problems exist: LLMs lack sufficient domain-specific knowledge to analyze construction contracts; existing RAG approaches do not effectively utilize domain expertise. This study aims to develop an automated contract review system that integrates domain expertise with AI capabilities while ensuring reliable analysis. By transforming expert knowledge into a structured knowledge base aligned with the SCF classification, the proposed structured knowledge-integrated RAG pipeline is expected to enable context-aware contract analysis. This enhanced performance is achieved through three key components: (1) integrating structured domain knowledge with LLMs, (2) implementing filtering combined with hybrid dense–sparse retrieval mechanisms, and (3) employing reference-based answer generation. Validation using Oman’s standard contract conditions demonstrated the system’s effectiveness in assisting construction professionals with contract analysis. Performance evaluation showed significant improvements, achieving a 52.6% improvement in Context Recall and a 48.3% improvement in Faithfulness compared to basic RAG approaches. This study contributes to enhancing the reliability of construction contract review by applying a structured knowledge-integrated RAG pipeline that enables the accurate retrieval of expert knowledge, thereby addressing the industry’s need for precise contract analysis.

Dispute resolution provisions are routinely found in the boilerplate section of all types of contracts, ranging from negotiated paper agreements to website Terms of Service. The law permits the parties to a contract to change the default rules that would otherwise govern their transaction, including how any disputes will be resolved. The ability of the parties to change default rules demonstrates the deference of contract law to individual autonomy and private ordering. Consent is central and essential to both. Despite the legal significance of consent, its meaning is elusive. In one sense, the “meaning of consent” refers to its implications and the legal and moral consequences that derive from consent. In the other, and more complex sense, the “meaning of consent” refers to its very nature. Drawing upon my previous work on consent and contracts, this Article discusses these two meanings of consent and how they are interdependent. It will also examine consent specifically in the context of dispute resolution clauses.

Wealth management products have been popular investment vehicles in China, and they are governed by standard form contracts. Existing studies mainly focus on the risk of such products and suggest having special laws to provide more protection for customers. Little is known about the actual contents of wealth management product contracts. Based on 66 hand-collected wealth management product contracts from major Chinese commercial banks, this article tries to explore the contractual relationship between giant banks and individual customers. It also tests the exploitation theory in a Chinese context by analysing whether the wealth management product contracts are more pro-seller or pro-buyer relative to the laws and regulations in China. Our findings reinforce the argument that standard form contracts are designed in favour of the sellers. The wealth management product contracts are tilted toward the commercial banks relative to the default rules. These contracts contain massive clauses that limit banks’ liabilities and restrict customers’ choice of conflict resolution mechanisms. However, a counter-intuitive finding is that national commercial banks provide less pro-seller terms than the local ones. We argue that the explanations for such variation in contract practices among Chinese commercial banks lie in the enforcement of relevant laws and regulations and the unique nature of national commercial banks.

The study focused on the procurement routes and the forms of contract, currently used in the UK housing retrofit industry. Importantly, the contracts between the clients and the contractors were investigated. This study used a qualitative approach with a critical literature review and semi-structured interview data collection for the methodology. The findings show that the housing retrofit industry does not use any standard form of contract in general. Most contractors use guarantees, warranties, and invoices instead of standard forms of contract. They usually use bespoke contracts if contract administration is required. This is because there is nothing wrong with the existing way of addressing contract administration in retrofit. As the UK needs to retrofit 30.1 million houses, there can be contractual disputes aggregating to 8.1 million properties or GBP 221.4 billion project value. The study recommends using standard forms of contract to avoid and reduce the detrimental effects of contractual disputes in housing retrofit in the future.

The domain of behavioural law and economics is winning increasing attention also in the field of consumer policy. How the insights of behavioural law and economics can be used in policy remains, to a large extent, unclear. In this article, the following question is asked: To what extent can the insights from the behavioural literature be applied in a way to formulate concrete suggestions to policy makers? The authors show that many of the findings of the behavioural literature are very context-specific and hence apply only with respect to particular products or services and particular consumer groups. Formulating general policy conclusions is therefore difficult. However, as far as the specific domain of standard form contracts is concerned, the authors argue that the behavioural literature has shown that the traditional remedy (mostly resulting from information economics), being to focus on information disclosure will not be able to remedy market failures resulting from failing information and the signing-without-reading-problem. Hence, more substantive forms of intervention in standard form contracts (e.g., resulting from collective bargaining) may be indicated as a remedy. [PUBLICATION ABSTRACT]

Most civil and common law regimes rest on the principle of equivalence between the prejudice and the amount of damages allocated to the victim. This rule of compensation is particularly strict in French law and allows for no exception, whether in contract or in tort law. We question the efficiency of this rule in the specific case of abusive or unfair terms in consumer contracts. French law strictly forbids such terms in any contract signed by a professional party and a consumer. When found in a consumer contract, the forbidden term is removed from the contract, the rest of which remains valid, and the consumer can obtain damages to repair the prejudice in accordance with the rule of equivalence between damages and compensation. Based on the example of unfair contract terms, the paper raises the issue of the deterrent effect of French liability law. More specifically, we ask the following question: is the rule of equivalence between damages and compensation efficient to prevent unlawful behavior? We show that French consumer law does not efficiently prevent abusive contract terms from being enforced. More generally, we argue that the strict equivalence between damages and compensation does not create efficient incentives for the parties. We argue that the introduction of punitive damages in French law would serve as an efficient incentive device, namely in the presence of lucrative faults. JEL Classification: K12; K42; D21

This paper uses new research into the derivatives markets to develop our understanding of standard form contracts as transnational law and to show how transnational law theory may be usefully informed by empirical work. Traditionally, it has been assumed that international business communities seek to avoid the courts. However, the paper shows that the national courts play a prominent role in adjudicating disputes involving derivatives. Basing the discussion on the detail of these decisions by the English courts, the paper demonstrates that adjudication does not necessarily undermine widely used standard form contracts, and that it may even reinforce practices that underpin them. This is particularly the case where there is imperfect co-incidence between a trade association's members and a standard form contract's users. Having explored recent cases, the paper reconciles its findings with a more open and imaginative account of the role of national courts within transnational law theory.

A growing literature studies the interactions between fully rational profit maximizing firms, on one side, and biased consumers, on the other side. Along these lines, this paper focuses on the consequences of quality misperception on the market equilibrium, by raising the following question: when quality bias affects consumer choice, do firms have incentives to educate their competitor’s customers in order to attract them? To tackle this issue, I incorporate consumer misperception in a Cournot-type duopoly model and consider the consequences on the market outcome. I focus on the two polar cases, when both firms either exploit consumer misperception, or educate completely their rival’s customers. I show that the market exerts conflicting forces on the firms’ incentives, such as a curse of debiasing might occur even in the presence of substitute goods. Consequently, the opportunity of a legal intervention to trigger consumer education is a key issue.

Industrialized Building System (IBS) has been introduced for over 40 years in Malaysia, with well-documented benefits and strong support from the government. Unfortunately, the pace of IBS adaptation is still slow and below the government's target. Construction players are still facing various issues and challenges when adopting IBS, particularly on contractual and procurement aspects, thus, it contributes to the low adoption of IBS in Malaysia. As of to date, there is still the lack of provisions in Malaysian standard form of contract to suit the IBS construction approach. Therefore, this research will attempt to investigate and compare several local and international standard form of contracts to identify and highlight what international standard form of contracts have provisions to suit IBS construction approach. Literature review and documents analysis were used in the data collection exercise. The study revealed that there are six provisions that the local standard form of contract can enhance to suit the IBS construction approach. The findings will be useful to enhance the local standard form of contract to suit IBS construction approach, hence, able to accelerate the adoption of IBS construction in Malaysia.

Lack of clarity in contract documents can lead to disputes between contracting parties. Standard form contracts have evolved due to construction business becoming increasingly complex and the difficulty in drafting bespoke conditions of contract for each project. Numerous advantages have been identified in using standard forms of contract. However, clients often modify some clauses in order to include specific requirements for a project. While the consequences of ill-modifications to standard forms have been researched, no study has been done on the impact of these modifications on the clarity and readability of the document. Using 281 modified clauses from large infrastructure projects implemented in Sri Lanka, this study found that on balance modifications generally make the document more difficult to read; 60% of the sample clauses were more difficult to read compared to 40% becoming easier. More than 50% of the original and modified clauses were still at the ‘very difficult’ level of readability, which requires the equivalent of post-graduate level to understand. The study contends that modifications have not resulted in improved readability. The study highlights the necessity of clear and plain language when modifying contract documents.