5 Questions
What is the purpose of Retention Money in a construction contract?
To ensure the contractor completes the work satisfactorily
What is the function of Performance Security in a construction contract?
To protect the employer against contractor's failure to complete the work
What is the purpose of Nominated Subcontractors in a construction contract?
To ensure the use of sub-contractors with adequate standing
What is included in the pricing of works executed by Nominated Sub-Contractors?
Prime Cost
What does Temporary Cooperation in construction contracts include?
Joint Venture
Test your knowledge of construction contracting structures including types of contractors, cooperation alternatives, and protection against contractor's failure.
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