Contract Provisions Quiz

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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?

When the Contractor disregards or violates Contract provisions. Signup and view all the answers

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

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

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

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

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

One week Signup and view all the answers

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

Decision by the Architect Signup and view all the answers

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

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

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

Terminate the Contract immediately 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?

15 days 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?

Initiate a dispute resolution process Signup and view all the answers

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

Liability insurance 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?

Owner and Architect Signup and view all the answers

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

Liability insurance Signup and view all the answers

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

After delivering a release of all liens arising out of the Contract Signup and view all the answers

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

Complete release of all liens or receipts in full Signup and view all the answers

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

Mediation Signup and view all the answers