Construction contracts - Study guides, Class notes & Summaries

this term means the management or handling of the business relations between parties to a contract - CORRECT ANSWER-contract administration this term refers to a much broader responsibility of relating to all project-related functions between the parties to a contract - CORRECT ANSWER-construction administration project delivery system is defined as... - CORRECT ANSWER-an approach to building the project team. an organizational concept which assigns specific responsibilities and authoriti...

Construction Contracts Exam 1 Questions And 100% Correct Answers...

Lansing Construction Company completed major jobs including road grading, bridges, and base and paving work. Which one of the following types of contractors is Lansing? · Heavy and highway construction · General Engineering contractor · General Building contractor · Design/build contractor - correct answer Heavy and highway construction The project owner for a new shopping plaza being built in Highville is the Highville Municipal Property Company. The role of the project owner at the ...

Construction Contracts Midterm Questions With Correct Answers.

Construction Contracts Midterm Study Guide (A+ Graded already)

Construction contracts 2024 Exam Questions and Answers All Correct What is a contract? - Answer-An agreement between two or more parties/persons to perform or not to perform some acts and it must be enforceable by law What is retention money? - Answer-Payment for a service or product that is withheld pending the completion of some specified condition What is included in the contract documents in Hong Kong? - Answer-1. Articles of agreement 2. Tender 3. Acceptance of tender 4. Drawings...

Construction Contracts Midterm Questions With Correct Answers.

Construction Contracts Exam 1 Questions And Verified Detailed Answers...

COSC 275 Exam 1 Palmer Questions and Answers fully solved 2023 Estimating: The process of determining the anticipated cost of materials, labor, and equipment of a proposed project. Take-off: The process in which detailed lists are compiled, based on drawings and specifications, of all the material and equipment necessary to construct a project. The cost estimator uses this list to calculate how much it will cost to build the project. Quantities: Measured amounts of construction...

Construction Contracts Test Questions with All Correct Answers Contract Types: Lump-Sum - Answer-contractors agrees to perform a stipulated job of work in exchange for a fixed sum of money extra costs are taken out of contractors pocket be sure and have contingency funds owners prefer Contract Types: Unit-Price - Answer-based on estimated quantities of defined items of work and costs per unit amount of each of these work items total sum of money paid to contractor for each wor...