Research On Obstacles To The Performance Of The Construction Contract Of Real Estate Development Projects

With the development of economy,the construction industry has developed rapidly in the past few decades.However,there are still some problems in the construction industry,such as delay of payment,frequent price disputes,illegal subcontracting,malicious claiming and so on.According to the statistics on the number of construction contract disputes,the dispute is becoming more and more prominent,and the construction contract performance is facing a more severe situation.At the same time,the real estate industry as an important source of output value of the construction industry,should be paid more attention to the performance of construction contract.Therefore,the subject of this paper is to study the factors that affect the performance of the construction contract of real estate development projects and put forward relevant suggestion to promote the performance of the contract.At first,this paper investigates the current performance status of construction contract of real estate development project with the method of questionnaire,and the questionnaire results show that poor performance in terms of the following three aspects including frequent price disputes caused by modification,the delay of contract completion settlement,and the frequent disputes of completion settlement measurement and valuation.Secondly,this paper puts out 29 obstacles of contract performance with the method of the principal-agent theory,construction contract performance status,expert review and cases.Through the questionnaire survey and factor analysis,paper extracts 7 key obstacles.According to its importance order from high to low is: incompleteness of tender document and contracts,the appeasement behavior of contractor in the stage of bidding,information asymmetry,the coercive act behavior of the owners in the bidding stage,the low capacity of the owner of the staff and organizationa,the low capacity of the contractor of the staff,imperfection of Relevant laws and regulations.Thirdly,this paper analyses the relationship between the key obstacle factors and the choice of performance behavior by hypothesis testing,and the results show that under the influence of key obstacle factors,the parties of contract would choose the opportunism behavior which causes performance obstacles.And then,the paper analyses how the obstacle factors influence the performance of construction contract.At last,the paper puts forward the suggestions to improving the level of contract performance from the angles of owner,contractor and government.The government guarantees the construction contract performance from the macro level by constructing a good market competition environment and effective supervision system,and the owners and contractors should enhance contract awareness and contract management capabilities in order to promote the performance of real estate development project of construction contract.