Feasibility study of Self-enforcing Construction Contracts

One of the issues of artificial intelligence in law is "smart contracts", a modern way of concluding and executing contracts by a computer or a programmed robot, without human intervention, it personalizes the wills of the users -parties to the transaction-, such as the time of concluding the contract, the subject of the contract, certain price, etc., and decide to conclude the contract and execute by itself. Some factors increase the satisfaction of parties and motivate them to use this method of contracting; such as speed, intelligence, optimal use of contract opportunities, better management of profits and costs. On the other hand, construction contracts have always faced major challenges in forming and especially executing of the contract. More often, Economic conditions such as material prices rising in the period of contract execution, which leads to non-performance or long delays, and so conflict with the legal rule to fulfill obligations on time. In the most appropriate cases, the parties request contractual or judicial adjustment but the lengthy litigation annoys them. It seems that smart contracts, with their nature of self-enforcing, can operate efficiently. This contractual platform can solve the mentioned problems, promote trust between parties, qualifies the parties’ capacity and technical and financial competence, pursues the proper construction materials providing, insurance, liability, and document registry, and also prevents property-related crimes.