Many of the entries in Contract Data are to do with amounts of money. How do I know what to set these at?

For some of these figures, there are almost industry-standard figures to put in. For 
instance, if using X15, the Contractor’s design, the period for retention of the contract
documents should match the timescales of the statutes of limitation, so it is either 6 or 12
years, while the minimum amount of insurance cover for not exercising reasonable skill and
care in design is either £5m or £10m, depending on the size of the contract. The same figure
then reads across to the entry for Defects due to the Contractor’s design in X18, limitation of
liability.

However, it is important to realise that, in general, the higher the amounts put in, the more
risk is transferred to the Contractor if the contract goes wrong. This means the Prices will be
higher or some contractors will not bid. This, in turn, will be informed by the risks associated
with the specific contract and the size of those risks compared with the size and financial
strength of the Contractor. Consequently, a balance needs to be set between setting the
amounts high enough to give the Client redress in case of Contractor default and motivating
the Contractor to perform, versus the cost of risk transfer and enforceability of actually
getting the redress. For instance, how often are delay damages actually deducted?