Podcast
Questions and Answers
Which of the following statements about cash allowances is true?
Which of the following statements about cash allowances is true?
- The value of the work performed under a cash allowance is not eligible to be included in progress payments.
- The actual cost of the Work under any cash allowance is always less than the amount of the allowance.
- The Contractor and the Consultant jointly prepare a schedule for ordering items under cash allowances. (correct)
- The cash allowances include the Contractor's overhead and profit.
What happens if the actual cost of the Work under any cash allowance exceeds the amount of the allowance?
What happens if the actual cost of the Work under any cash allowance exceeds the amount of the allowance?
- The Owner is credited for the unexpended portion of the cash allowance.
- The Owner is not credited for the unexpended portion of the cash allowance.
- The Contractor is compensated for the excess incurred plus an amount for overhead and profit. (correct)
- The Contractor is not compensated for the excess incurred.
How are cash allowances authorized?
How are cash allowances authorized?
- By the Contractor directly.
- By the Owner directly.
- By the Owner through the Consultant. (correct)
- By the Contractor through the Consultant.
Can multiple cash allowances be combined for the purpose of calculating the excess cost?
Can multiple cash allowances be combined for the purpose of calculating the excess cost?
According to the text, when does the Contractor need to deliver a list of items to be completed or corrected, along with a written application for review by the Consultant?
According to the text, when does the Contractor need to deliver a list of items to be completed or corrected, along with a written application for review by the Consultant?
According to the text, when does the Consultant need to issue a certificate stating the date of substantial performance of the Work?
According to the text, when does the Consultant need to issue a certificate stating the date of substantial performance of the Work?
According to the text, when should the Contractor submit an application for payment of the holdback amount?
According to the text, when should the Contractor submit an application for payment of the holdback amount?
According to the text, when is the holdback amount authorized by the certificate for payment of the holdback amount due and payable in the Province of Quebec?
According to the text, when is the holdback amount authorized by the certificate for payment of the holdback amount due and payable in the Province of Quebec?
Which of the following expenses are included in the Contractor's personnel travel and subsistence expenses?
Which of the following expenses are included in the Contractor's personnel travel and subsistence expenses?
What is the cost of transportation included in the Contractor's expenses?
What is the cost of transportation included in the Contractor's expenses?
Which items remain the property of the Contractor and have a salvage value?
Which items remain the property of the Contractor and have a salvage value?
Which expenses are included in the cost of tools and construction equipment used in the performance of the Work?
Which expenses are included in the cost of tools and construction equipment used in the performance of the Work?
What do the expenses of the Contractor's field office include?
What do the expenses of the Contractor's field office include?
According to the text, when is a Change Order or a Change Directive required for a change in the Work?
According to the text, when is a Change Order or a Change Directive required for a change in the Work?
What is the basis for determining the adjustment in the Contract Price for a change carried out by way of a Change Directive?
What is the basis for determining the adjustment in the Contract Price for a change carried out by way of a Change Directive?
Which of the following is NOT a factor considered in valuing Change Directives?
Which of the following is NOT a factor considered in valuing Change Directives?
What is the basis for determining the cost of performing the work attributable to the Change Directive?
What is the basis for determining the cost of performing the work attributable to the Change Directive?
According to the text, what does the GC 4.2.3 provision state about the contingency allowance?
According to the text, what does the GC 4.2.3 provision state about the contingency allowance?
According to the text, what is the purpose of the GC 5.1 provision?
According to the text, what is the purpose of the GC 5.1 provision?
According to the text, what is the purpose of the GC 5.2.4 provision?
According to the text, what is the purpose of the GC 5.2.4 provision?
According to the text, what is the purpose of the GC 5.3.1 provision?
According to the text, what is the purpose of the GC 5.3.1 provision?
According to the text, when does the Owner have to pay the Contractor the holdback amount for subcontract work or products supplied by a Supplier in common law jurisdictions?
According to the text, when does the Owner have to pay the Contractor the holdback amount for subcontract work or products supplied by a Supplier in common law jurisdictions?
According to the text, what can the Owner retain out of the holdback amount in common law jurisdictions?
According to the text, what can the Owner retain out of the holdback amount in common law jurisdictions?
According to the text, when does the Owner have to pay the Contractor the holdback amount for subcontract work or products supplied by a Supplier in the Province of Quebec?
According to the text, when does the Owner have to pay the Contractor the holdback amount for subcontract work or products supplied by a Supplier in the Province of Quebec?
According to the text, what is the Consultant's responsibility when the Contractor submits an application for final payment?
According to the text, what is the Consultant's responsibility when the Contractor submits an application for final payment?