How can fluctuation clauses be calculated?

Q: What is lump sum contract?

A: The lump sum contract is the traditional method of contracting in which the contractors are required…

Q: What is the use of budget reporting form?

A: The budget reporting form is the process in which the actual budget and the planned budget is…

Q: What is the term "settlement time"?

A: Settlement Time means any time within the two Business Days which are immediately following the…

Q: What is contract? Discuss different types of contracts in detail with suitable examples

A: A Contracts is a legal framework or a set of rules which are carried out to establish a legal…

Q: xplain on the total comparison analysis between workmen's compensation and contractor all risk…

A: Workers' compensation is a type of plan that offers pay substitution and healthcare benefits to…

Q: What are common contract documents?

A: In construction, contract documents are the written documents that describe the work,…

Q: What are construction progress payments?

A: Construction progress payment. The construction progress payment is the payments that are done based…

Q: What are claims and disputs?

A: Claim:

Q: What is a conceptual estimate?

A: Estimation is a method used to determine the cost of a project. estimation can be differentiated…

Q: How is a contract executed?

A: An executed contract can be defined as an agreement that has been signed by all the concerned…

Q: What are Cole values

A: Solution: COLE stands for The Coefficient of linear Extensibility.  It is used to measures the soil…

Q: What Employer Liability Insurance?

A: The employer liability insurance is a type of policy coverage which covers the cost such as medical…

Q: What does the negotiation involve?

A: A Negotiation could be a strategic discussion that resolves a difficulty during a method that each…

Q: What concept is used by Risk management to deal primarily with risks?

A: Risk Management is explained as a proper means to inspect areas of risk in a certain project…

Q: What are the three main types of Fluctuation Clauses?

A: Fluctuation clauses are the clauses that are added to a construction contract and are used to deal…

Q: Describe the management and Turnkey Contracts?

A: A Turnkey Contract is one under which the contractor is responsible for both the design and…

Q: Why use standard forms of contract?

A: Standard contracting forms have a whole host of benefits:

Q: Name the four of the principal types of contractual relationships frequently encountered in…

A: Following are the four principal types of construction contracts: 1) Lump Sum Construction Contract:…

Q: What are the alternative methods for dispute resolution?

A: Alternative dispute resolution is a method for resolving conflicts outside of the courtroom or…

Q: What type of insurance protects against legal liability to public?

A: Liability insurance offers protection from claims that result from injury and harm to individuals…

Q: What are construction contracts?

A:

Q: What is conditional waiver?

A: The lien waiver is a legal document that is executed when a person wants to give up their right to…

Q: What is included within the final account?

A: A final account in construction is defined as, the accepted statement of the amount of money to be…

Q: Can the Supplementary General Conditions be used to modify the Agreement form?

A: Supplementary General Conditions is a term defined by the construction specification institute…

Q: Is it preferable to establish a filing system for an entire company or agency?

A: - A filing system is a type of system of keeping all the central record for an organisation or…

Q: What is dispute resolution?

A: A dispute resolution is also known as alternative dispute resolution or appropriate dispute…

Q: What types of dispute resolution are there?

A: Dispute resolution refers to the process of resolving the conflict or dispute between concerned…

Q: The contract definition

A: Solution: The correct option to above given question is option C.

Q: What are claims and disputes?

A: Claims and Disputes:

Q: Does every claim include some form of estimate?

A: Claims professionals square measure chargeable for estimating case outstanding on claims that square…

Q: What is meant by stakeout?

A: Stakeout is defined as:

Q: What is a written contract?

A: - A Written Contract is a type of legal document which is a printed or manually written agreement…

Q: Differentiate between the conditional waiver and nonconditional waiver?

A: A construction lien waiver is a legal document that states a party waives future lien rights against…

Q: How does conciliation work?

A: Conciliation includes an independent conciliator who promotes contact between the opposing parties…

Q: What references are provided as an aid to compare the provisions of measurement and payment?

A: Measurement is done to workout the output in a defined manner as per the parameters defined in the…

Q: Describe the term “Order of Precedence of Contract Documents?

A: Construction contracts are a collection of various documents drawn up by various participants of…

Q: What is the Project Delivery System?

A: The process of designing and construction of a project for an owner is known as Project Delivery…

Q: How can the documentation of claims defence prepared?

A: The construction claim is defined as a claim against the owner, by the contractor, or a claim…

Q: What is Risk Allocation?

A: The risk allocation is defined as “the process of identifying the risk factors and determining how…

Q: Explain the statement 'submittal of evidence insurance'?

A: The proof of valid insurance with an insurance company which is provided to another individual for…

Q: 5. Describe different notice clauses in construction contract.

A: To find: Different notice clauses in construction contract

Q: What do you mean by contract relationship?

A: A contractual relationship is a legal bond between the two parties or people who agree to at least…

Q: What are Stage Payments?

A: A stage payment is also called a schedule of payments, it is a list of dates setting out when…

Q: What is Employers Liability Insurance?

A: Employers' liability insurance is also known as employment practices liability insurance which used…

Q: Why is it necessary to observe changes within the terms of the contract?

A: The agreements which are in the written document form and gives the details of law on different…

Q: Define Risks at Risk management?

A: To define: Risks at Risk Management.

Q: What is the order of Precedence of contract documents?

A: Construction contracts are also very broad and contain a lot of different number of documents such…

Q: Explain the following terms in detail.  i) Contract ii) Types of Contracts

A: