Describe the procedure of how partial payments to the contractor is done?

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 are the different types of construction contracts?

A: A construction contract is a formal or legally binding agreement made between two organizations…

Q: What are the side effects of change orders on the  the contractor's cost?

A: The nature of construction projects is complex and unpredictable, where lots of factors and…

Q: What is the Main Contractor responsible for?

A: A construction contractor is defined as the person to whom supervision, direction and inspection of…

Q: What are unit price contracts?

A:

Q: When are the unit price contracts used?

A: Introduction to Unit price contract Unit Price method is the kind of contract in which total cost of…

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: How is recording of Bids done?

A: Project bidding is the mechanism whereby the contractor submits a offer to the customer as a request…

Q: What is the lump sum?

A: the lump sum amount is 23120.07/-

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: Is the Insurance coverage an important contractual responsibility of the contractor?

A: Contractual insurance protects against accidents that the policyholder has expected from entering…

Q: What is the cost Reimbursable contract?

A: A constructional contract is defined as an agreement between two parties in which general and…

Q: Discuss the importance of boilerplate contract terms and conditions as part of the contract. How do…

A: Boilerplate clauses, also known as common, general, and miscellaneous clauses, are provisions that…

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 are the bidder's errors interpreted?

A: The Bidder's Error are interpreted in following ways : 1. When the the rates of the bidder's…

Q: What are the obligations of the contractor?

A: In the construction project various roles are performed by the contractor. The contractor is the…

Q: How can the differences between the parties affect contract cost or time required to complete the…

A: Several differences can occur between parties in an ongoing project that may lead to disputes and…

Q: What is a payless notice?

A: Pay Less Notice is defined as the notice which is written in order to notify the Payee from the…

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: . Is the contract lump-sum, unit-price, or cost-plus-fixed-fee?

A: The lump sum contract is the most common type of an owner-contractor agreement, and is fairly easy…

Q: On lump-sum contracts, what are the  two methods available toutilize a PC computer in determining…

A: Lump-sum contracts : In lump sum construction contract, contractor fix a single fixed price for all…

Q: What are the benefits of open shop contracting?

A: Open shop contracting is a type of agreement that may have a union, but it has freedom to hire both…

Q: Define the term Instant contract savings?

A: Instant contract saving:

Q: What are the Loss and Expense heads of claim?

A: The loss and expense is a claim in the construction contracts which is presented by the contractor…

Q: Describe how computers can help with the first stage in pricing an estimate.

A: Computers are one of the most useful tool in the sorting and listing phase, and even the recap phase…

Q: essary to retain at least one set of origi

A: When choosing a vendor to subcontract a project to, or to buy materials and services that are…

Q: Why does the contractor not want to make a commitment to unit -price amounts?

A: In Unit price amount contract, it is a commitment by the contractor to fix the rates of each and…

Q: Differ between Assignment and sub contracting?

A: Subcontracting and assignment are two terms which are widely used in an construction project.  These…

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: How do the Owners and the Contractors set the pace?

A: Setting the pace between owners and the contractor is very important for the project why it is…

Q: How is the force account used as a payment method?

A: Force account is a method of payment used for additional work if the contractor and the State…

Q: How can the measurement for payment be done?

A: The unit of measurement applicable for which payment will be made for facilities of the water system…

Q: What are some methods that are used to monitor delay or disruption of a contract?

A: Answer:- Delay in contract:- Delay is one of most common problem in construction projects resulting…

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: Why are monthly reports of Contract Performance important?

A: The report that provides cost of contract and its total schedule and its performance data to…

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: 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 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 the purpose of the notice to bidders?

A: Purpose of the notice to bidders:

Q: What is the procedure of the punch list obligations followed by the contractor?

A: Procedure of the punch list obligation followed by the contractor is very simple and it is mention…

Q: Describe the concept of a design-build contract?

A: The project delivery system is a process which is used to assign the responsibilities of the…

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…