Contract State for Design-Build Agreement

The Contract State document outlines the lifecycle of the Network Segment assets under the Design-Build Agreement (DBA), detailing each stage of progression from design through to construction and completion. The state of these assets is tracked using a state machine model, which can be implemented in a Distributed Ledger Technology (DLT) such as Corda. This ensures a transparent, immutable record of progress that aligns with the contractual milestones and obligations.

Purpose

The contract state serves several key purposes:

  • Tracking Progress: It provides a real-time view of the Network Segment’s status at any given time during the project.

  • Ensuring Compliance: By tracking the progress, all stakeholders can ensure that the work is compliant with the design specifications and contract terms.

  • Facilitating Payments: It acts as a basis for authorizing progress payments as the Network Segment assets reach predefined milestones.

  • Maintaining Records: Keeping an immutable record of the state transitions for each Network Segment asset for auditing and historical analysis.

Overview of Contract States

The lifecycle of a Network Segment asset within the DBA typically includes the following states:

  • Design Pending: The initial state where the asset is awaiting detailed design plans and specifications.

  • Design Completed: The state indicates that the design has been finalized and approved for construction.

  • Construction In Progress: Reflects that the asset is currently under construction with ongoing tracking of progress against the schedule.

  • Inspection Pending: Once construction is believed to be complete, the asset enters this state while awaiting quality and compliance inspections.

  • Corrections Required: If inspections reveal the need for corrections, the asset reverts to this state until issues are resolved.

  • Construction Completed: The state signifies that the asset has passed all inspections and is constructed to the agreed specifications.

  • Operational: The final state where the asset is fully operational and handed over to the project owner or maintenance team.

State Machine Diagram

The state machine diagram will visually represent the transitions between the states of a Network Segment asset. Each transition will be tied to specific actions, events, or milestone completions. A detailed diagram will be provided here, which will be used to implement the tracking logic within the Corda DLT platform.

Diagram

Conclusion

The contract state framework is crucial for managing the progression of Network Segment assets under the Design-Build Agreement. The integration of this framework with Corda DLT provides a robust mechanism for tracking, validating, and recording each phase of the asset’s lifecycle, ensuring that all parties have a consistent and accurate understanding of the project’s current status.