Contract Provisions Quiz
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Questions and Answers

What happens if the Owner fails to pay the Contractor within thirty (30) days after the arbitration award?

  • The Contractor is compelled to suspend work.
  • The Contract sum is increased by the Contractor's reasonable shutdown costs. (correct)
  • The Owner must terminate the Contract immediately.
  • The Contract sum is decreased by the amount owed.
  • Under what circumstances may the Owner terminate the Contract?

  • If the Contractor fails to hire a qualified architect.
  • If the Contractor requests a change order.
  • If the Contractor becomes insolvent or assigns assets for creditors. (correct)
  • If the Contractor exceeds the agreed Schedule of Completion.
  • What action can the Owner take if the Contractor fails to provide competent workmen or subcontractors?

  • Increase the project budget.
  • Decrease the project scope.
  • Assign a new Superintendent to oversee the project.
  • Terminate the Contract after written notice. (correct)
  • When may 'sufficient cause' exist for terminating the Contract?

    <p>When the Contractor disregards or violates Contract provisions.</p> Signup and view all the answers

    What happens if the Contractor is compelled to suspend work due to hardships or difficulties?

    <p>The Contract sum is increased by reasonable shutdown costs.</p> Signup and view all the answers

    How can the Owner finish the work if they terminate the Contract with the Contractor?

    <p>By taking possession of premises and materials and finishing it in any expedient method.</p> Signup and view all the answers

    What is the time limit for making claims for extra cost as per the Contract?

    <p>One week</p> Signup and view all the answers

    In the matter of arbitration, what is NOT a condition precedent to arbitration according to the Contract?

    <p>Decision by the Architect</p> Signup and view all the answers

    Under what circumstances can the Contractor suspend work or terminate the Contract without penalty?

    <p>Architect's delay in certifying a Certificate of Payment</p> Signup and view all the answers

    What action can the Contractor take if an order of court causes work stoppage for over 90 days?

    <p>Terminate the Contract immediately</p> Signup and view all the answers

    What is the time frame given for the Architect to act upon a Request for Payment as per the General Conditions of the Contract?

    <p>15 days</p> Signup and view all the answers

    In case of delay in payment from the Owner, what action can the Contractor take based on the Contract?

    <p>Initiate a dispute resolution process</p> Signup and view all the answers

    What type of insurance is the Owner required to maintain to protect employees under his employ or services?

    <p>Liability insurance</p> Signup and view all the answers

    Before the start of construction, who needs to provide a list of personnel assigned to the project for insurance coverage?

    <p>Owner and Architect</p> Signup and view all the answers

    What is an optional insurance that the Owner can choose to maintain for protection from contingent liability?

    <p>Liability insurance</p> Signup and view all the answers

    When does the final payment become due according to the text?

    <p>After delivering a release of all liens arising out of the Contract</p> Signup and view all the answers

    What document must the Contractor provide to the Owner to release all liens before final payment?

    <p>Complete release of all liens or receipts in full</p> Signup and view all the answers

    What is a mechanism provided for resolving disputes between parties according to the text?

    <p>Mediation</p> Signup and view all the answers

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