Podcast
Questions and Answers
Who is responsible for paying the CONTRACT PRICE?
Who is responsible for paying the CONTRACT PRICE?
- Sub-contractor
- Owner's Representative
- Surety
- Contractor (correct)
Which document describes the qualities of the material to be used in the construction work?
Which document describes the qualities of the material to be used in the construction work?
- Sub-contractor
- Drawings
- Performance Bond
- Specifications (correct)
Who acts on behalf of the Owner in the construction project?
Who acts on behalf of the Owner in the construction project?
- Performance Bond
- Sub-contractor
- Owner's Representative (correct)
- Contractor
What type of costs are considered under COST in contract documents?
What type of costs are considered under COST in contract documents?
Which party furnishes the PERFORMANCE BOND as a guarantee of good faith in executing the work?
Which party furnishes the PERFORMANCE BOND as a guarantee of good faith in executing the work?
What are DRAWINGS in the context of contract documents?
What are DRAWINGS in the context of contract documents?
Who should be immediately notified in case of any discrepancy found between the Drawings and Specifications and site conditions?
Who should be immediately notified in case of any discrepancy found between the Drawings and Specifications and site conditions?
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?
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?
In a Lump Sum Contract, when is payment usually made to the Contractor?
In a Lump Sum Contract, when is payment usually made to the Contractor?
Who is responsible for the adequacy of the design and sufficiency of the Drawings and Specifications?
Who is responsible for the adequacy of the design and sufficiency of the Drawings and Specifications?
What should site investigations have revealed before the commencement of the project?
What should site investigations have revealed before the commencement of the project?
Which type of contract involves payment based on quantities of work performed at specified unit prices?
Which type of contract involves payment based on quantities of work performed at specified unit prices?
What is a key advantage of a Lump Sum Contract for the owner?
What is a key advantage of a Lump Sum Contract for the owner?
What is a disadvantage of a Lump Sum Contract for contractors?
What is a disadvantage of a Lump Sum Contract for contractors?
In a Unit Price Contract, how is payment made to the Contractor?
In a Unit Price Contract, how is payment made to the Contractor?
What type of work is ideal for a Unit Price Contract?
What type of work is ideal for a Unit Price Contract?
In a Labor Contract, who arranges and supplies all materials for construction at the site?
In a Labor Contract, who arranges and supplies all materials for construction at the site?
What basis is the contract in a Labor Contract primarily on?
What basis is the contract in a Labor Contract primarily on?
