On the typical project, which are the twoprime contracts made with the owner?
Q: True or false? Under the Partnering concept, all differences are intended to be resolved at the…
A: Given statement: Under the Partnering concept, all differences are intended to be resolved at the…
Q: Define the term Contractual Allocation of Risk?
A: Risk management is the method of defining threats and deciding whether they can be distributed, and…
Q: Why is it necessary for the estimator to visit the site even when extensive site information is…
A: A bid document carry information regarding cost of materials as well as work schedule of building…
Q: What standard forms of contract are offered by JCT?
A: The Joint Contract Tribunal's (JCT) standard forms of contract are created for difficult or big…
Q: What are the several factors to chose a contract?
A: A contract is a legally enforceable file that identifies and regulates the rights and…
Q: Can the contractor, attempt to interpret the strict orders of specifications to prepare the bid?
A: Bidding is the process in a tender and the one who put the highest bid will get the contract.
Q: Define the term fixed-price contracts?
A: A fixed-price contract is also known as a lump-sum contract or a firm-price contract. It establishes…
Q: How can a project become involved in litigation?
A: Litigation is the mechanism through which a lawsuit is taken to trial. The legal cycle is usually…
Q: What is the cost Reimbursable contract?
A: A constructional contract is defined as an agreement between two parties in which general and…
Q: List three general reasons why actual costs may exceed estimated costs on a lump-sum contract.
A: The general reasons due to which the actual costs may exceed estimated costs on a lump-sum contract…
Q: ,How can a Project Manager incur the considerable risk of loss tothe parent organization?
A: A project manager is a person, who has the entire project responsibility from the successful…
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: Give some reasons for the unbalancing bids?
A: The unbalancing of a bid is the transfer of portion of the work cost for one part of work to another…
Q: Describe the procedure of how partial payments to the contractor is done?
A: Partial payment is also called as progress payments. These payments are based on the percentage of…
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: in which construction contract is given an accurate price fo
A: Introduction- A construction agreement is a legally enforceable contract between two parties based…
Q: Does the contractor have to accept partial possession?
A: The partial passion usually needs the approval of the contractor and provides the owner to use part…
Q: Discuss the group settlement ratio?
A: Group settlement ratio- For defining the settlement in case of a pile group, this term is widely…
Q: In what major section of the contract is the time duration ofthe project normally specified?
A: Supplementary conditions section contain special points which qualify or modify the general…
Q: .Based on (Right of Access to the Site) sub-clause, the contractor is allowed to access the site in…
A: Answer : Option (B) is correct.
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: An owner can protect themselves from a failure of the low bid contractor to live up to their bid by…
A: Bid bond is legal agreement that protects the owner from failure of low bid contractor by…
Q: Define direct operating costs?
A: Introduction : Direct operating costs : All eligible expenditures required to operate and maintain a…
Q: Is the final amount paid to a contractor under a unitprice contract limited by the quantities of…
A: Let's understand first what is unit price method: In a unit value contract, the complete agreement…
Q: Are the quantities of supplies or work stated in the original Bid Schedule used to determine the…
A: The explanation of the quantities of supplies or work stated in the original Bid Schedule used to…
Q: What is an Advanced Payment Bond?
A: An advanced payment bond is also called an advanced payment guarantee, it is provided by the party…
Q: A contractor wishes to participate in the bidding for a government project and submitted documents…
A: Given data- ABC project bid = P328,644,200.20 with a duration of 20 monthslargest single project…
Q: If you want to build a home for yourself, which contract will choose: O a. cost plus fee O b. Any…
A: option D is correct ( Lump sum Contract ) Home can be built by any method but most suitable method…
Q: What are the objectives of a Post Qualification Process in Bids and Awards of a Project?
A: This step is intended to determine whether or not the bidder who was determined to have submitted a…
Q: In a construction contract, which is the best party to bear the various risks?
A: In a construction contract there are various risks, some are given below: Logistical risks Socio…
Q: on the typical project, there are usually how manyprime contracts with the owner?
A: There are generally two prime contracts occur with the owner in a typical project.
Q: Why do the public works projects mostly involve some retention of a portion of earned funds of the…
A: The retention of the earned funds or the retainage is the amount of money held back from the…
Q: Do the project records define contractual parameters within which the parties should function?
A: Let's first understand "what is project record" Managing project records is a crucial responsibility…
Q: What type of bond guarantees that if a contractor goesbankrupt on a project the surety will pay the…
A: Payment bond guarantees that if a contractor goes bankrupt on a project the surety will pay the…
Q: Differ between the unit price contract and contract price?
A: The contract which is made upon the basis of estimation of the unit price of materials used in the…
Q: What is the purpose of the notice to bidders?
A: Purpose of the notice to bidders:
Q: What are Guaranteed Maximum Price Contracts?
A:
Q: payees of the order instrument.
A: An order paper, or order instrument, is a negotiable instrument that is payable to a specified…
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…
On the typical project, which are the two
prime contracts made with the owner?
On the typical project, usually there are two different prime contracts signed with the owner.
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Solved in 2 steps
- on the typical project, there are usually how manyprime contracts with the owner?What type of bond guarantees that if a contractor goesbankrupt on a project the surety will pay the necessaryamount to complete the job?Does the work covered in a construction contract include a stated gaurantee period?
- In what major section of the contract is the time duration ofthe project normally specified?True or false? Under the Partnering concept, all differences are intended to be resolved at the lowest management level—preferably at the project site.What responsibilities does the Resident Project Representative have, in the case of public agency contracts?
- Can the contractor, attempt to interpret the strict orders of specifications to prepare the bid?Differ between the unit price contract and contract price?Is the final amount paid to a contractor under a unitprice contract limited by the quantities of materials or work shown in the original Bid Schedule?