How is time measured in construction contracts? Provide and example of a type of project that would be suited for each way.   What are liquidated damages and what are the consequences of not including liquidated damages provision on a project? How are liquidated damages related to consequential damages?

Q: With an increase in quantities, the unit price drops due to: Reduced contribution of fixed costs…

A: With an increase in quantities, the unit price drops due to economies of scale. The fixed costs does…

Q: If a general contractor does not feel like paying worker's compensation fees, then the contractor…

A:

Q: What is the Litigation process?

A: Litigation is the process of arguing or engaging in legal action in court as a method of settling a…

Q: What means are available to a contractor bidding a unit-price project for recovery of “General…

A: Front loading bids, unbalancing bids to retrieve mobilization costs. Owners set lump sum amounts for…

Q: In a construction contract, list the effects of achieving substantial completion upon the contract…

A: The owner will be able to use the project for the intended purposes and its use does not intervene…

Q: who submit them for the bidders ? who receives the pre-qualification files from the contractors?…

A: Tendering : Tendering is a process of inviting a number of contractor to execute a project through…

Q: What phrase regarding time must be included in the contract to support a liquidated damages claim?

A: The phrase regarding that should be included in the contract to support a liquidated damages claims…

Q: What are the liquidated damages?

A: The damages that occur due to the breach of the contract can be classified into liquidated and…

Q: Determine the criteria for the selection of a contract. Time  Cost  Quality  Risk

A: Brief concept introduction- Contract- A contract is an agreement between two parties that is…

Q: When a claim or dispute arises, what steps should be taken by the contractor?

A: In the construction project, the dispute arises due to disagreements between the parties on a…

Q: Why is cost plus a percentage of cost type of contract notused to a great extent?

A: A cost-plus contract is an agreement to a company for the expenses that acquired a specific amount…

Q: What is the “contractor’s risk,” and how does it relate to the type of construction contract to be…

A: Contractor's Risk : when the term is used in association with a construction project, is the…

Q: What are the two basic precepts or that should be recognized as the criteria for sharing of risk…

A: Construction projects are very complex and technically of large value with time period of many…

Q: What payments are typically linked to Substantial Completion? And to Final Completion?

A: In any construction project, the owner must make monthly or regular payments to the general…

Q: Is it a good idea to utilize cost-loaded CPM for contractor progress payments on unit-price…

A: The cost-loaded schedule comprises the works that have been ordered and spread throughout the…

Q: How is the computation of liquidated damages is done?

A: Liquidated damages are given in specific legal contracts as an evaluation of losses to one of the…

Q: what grounds and to what extent could damages be claimed in a contract?

A: Contract- It is defined as a legally binding document entered by two or more parties with certain…

Q: What actions can be taken to collect liquidated damages for the failure of a contractor to meet…

A: Liquidated damages are penalties the value to which the parties assign as reimbursement for a…

Q: What are Un-liquidated damages?

A: The damages that occur due to the breach of the contract can be classified into liquidated and…

Q: When do the courts enforce liquidated damages?

A: Liquidated damages are given in specific legal contracts as an evaluation of losses to one of the…

Q: What is the Assurance program at the federal project?

A: The federal projects are compulsory allied to the assurance program.The assurance program helps in…

Q: What is the difference between liquidated damages and apenalty for late completion of the contract?

A: If the amount set by both parties is a true estimate of the loss due to a future breach of contract,…

Q: What can be the result of the contractor’s failure to follow mandated government claims procedures?

A: A contractor is a self-employed person that carries out work for the construction company. The…

Q: What is the fixed-price incentive contract?

A: Fixed price incentive contract is a contract in which a fixed percentage on the total target cost or…

Q: Question 14: What is a key characteristic of the preconstruction stage? o walkdown of the site o…

A: 14)  procurement  15) False  The wrong judged prices will be equally shared by both contractor and…

Q: In a construction contract, list the effects of achieving substantial completion upon the contract…

A: A construction contract includes general and special terms of agreement, details of construction…

Q: Why do the contractor favor no fault settlement while resolving a dispute?

A: A dispute resolution is also referred to as alternative dispute resolution, it is a method for…

Q: What is a contract? What are the different types of civil engineering contract? State the…

A: The contract is a law-abiding agreement signed between the client and owner. During the sign of the…

Q: Which of the following shall be excluded in the contract costs of a construction contract? a. Costs…

A: Option B is correct Selling costs such as advertisement expense or commissions of real estate agents…

Q: What is the derivation of the costing of a new item of work not included in the original contract?

A: When there is a new item which is not included in the original contract then the following steps are…

Q: What types of bonds are required to be provided by a bidder/contractor on a public works contract?

A: A public works contractor is anybody that enters or bids on a contract to execute work which…

Q: What type of risks are reserved to the contractor?

A: Construction projects are subjected to various internal and external risks as a result of its…

Q: What is one of the most common causes of contractor claims?

A: There square measure several quite conflicts occur in construction industry between the parties that…

Q: Why is it important to understand how to choose the correct type of consruction contract to issue?

A: Answer:- Construction contract:- It is a mutual or legally binding agreement between two parties…

Q: What are some of the examples of fixed-price incentive contracts?

A: Fixed-price incentive contracts are fixed-price contracts but with the incentive given for finish…

Q: Is it advisable to use cost-loaded CPM for progress payments to the contractor on unit-price…

A: The cost-loaded schedule is composed of the works that have been ordered and distributed across the…

Q: How do the owners collect the liquidated damages from the contractors during construction?

A: Liquidated damages are the method of sharing risk between the owner and the contractor and are…

Q: During what period can a contractor withdraw the bid without penalty?

A: A contract is a legal bond between two or more two parties. It specifies the duties and…

Q: What are Guaranteed Maximum Price Contracts?

A:

Q: Why should the contractor submittals be handled carefully?

A: Submittals in the construction of the board are shop drawings, material information, tests, and item…

Q: Why is the contractor liable of providing the surety bonds to obtain written release prior to the…

A: Let's first understand that what is surety bond: A Surety bond may be a triangular contract. One…

Q: Some people feel that lump-sum contracts can foster amore contentious work environment than any of…

A: True

Q: How would you go about either documenting a claim for acontractor’s progress payment or its…

A: In order to appropriately document a contractor, maintain for a progress payment, the following…

Types of Contracts

A verbal or written agreement between a person and a firm, for undertaking construction, material supply, maintenance, and repair work which is enforceable by law is termed as a contract. The person who undertakes the contract for execution of the work is termed as a contractor. The contracts are classified into different types depending on the nature of the contract.