Va Contractor's License Quiz 2 With correct Answers

What is a bid? - ANSWER-A guarantee to construct the project in accordance with the bid documents for a quoted price Employees who are fired for filing an OSHA complaint have ______ to notify OSHA. - ANSWER-30 days To obtain the best price for materials you should obtain at least how many bids? - ANSWER-3 Getting too many bids is a waste of time, but getting too few bids makes it difficult to determine whether you are getting a good deal Which costs should ALWAYS be included in the estimate? - ANSWER-Contingency fee Expressed as a percent, should be added to an estimate to cover any errors, oversights, and unexpected costs, such as special delivery of materials, unplanned overtime, or equipment breakdowns. Equipment rentals, site preparation and excavating, and subcontracts should be known and may not be part of all contracts. What information do project documents ALWAYS provide? - ANSWER-Specifications What is a contract? - ANSWER-A contract is a binding agreement between two or more persons, a summary of what has been agreed upon, and provides a legal obligation to perform in a certain manner. What action is essential before signing a contract? - ANSWER-Read and understand the contract Which of the following is an established legal guideline for contracts? - ANSWER-Written agreements prevail over oral agreements Handwritten over printed agreements, and words over numbers.