18 Questions
Who is responsible for paying the CONTRACT PRICE?
Contractor
Which document describes the qualities of the material to be used in the construction work?
Specifications
Who acts on behalf of the Owner in the construction project?
Owner's Representative
What type of costs are considered under COST in contract documents?
Expenditures properly incurred or to be incurred
Which party furnishes the PERFORMANCE BOND as a guarantee of good faith in executing the work?
Contractor
What are DRAWINGS in the context of contract documents?
Graphical presentations of the Work
Who should be immediately notified in case of any discrepancy found between the Drawings and Specifications and site conditions?
The Owner
What type of contract involves the Contractor agreeing to complete a stipulated job of work for a fixed sum of money within a specified time?
Lump Sum Contract
In a Lump Sum Contract, when is payment usually made to the Contractor?
Upon completion of milestones
Who is responsible for the adequacy of the design and sufficiency of the Drawings and Specifications?
The Owner
What should site investigations have revealed before the commencement of the project?
Ground condition
Which type of contract involves payment based on quantities of work performed at specified unit prices?
Unit Price Contract
What is a key advantage of a Lump Sum Contract for the owner?
The Contractor is responsible for preparing the BOQ
What is a disadvantage of a Lump Sum Contract for contractors?
The tendered price may include high-risk contingency
In a Unit Price Contract, how is payment made to the Contractor?
By detailed measurement of different items of works done
What type of work is ideal for a Unit Price Contract?
Work where quantities can't be accurately established before construction starts
In a Labor Contract, who arranges and supplies all materials for construction at the site?
Department or owner
What basis is the contract in a Labor Contract primarily on?
Item rate basis for labor portion only
This quiz explores the concept of a lump sum contract in construction projects, where the contractor is responsible for preparing the Bill of Quantities. Learn about the advantages and disadvantages of this type of contract, including financial risks and incentives for the contractor.
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