Constracts Study guides, Revision notes & Summaries

this term means the management or handling of the business relations between parties to a contract correct answers contract administration this term refers to a much broader responsibility of relating to all project-related functions between the parties to a contract correct answers construction administration project delivery system is defined as... correct answers an approach to building the project team. an organizational concept which assigns specific responsibilities and authorities t...

Construction Contracts Overview Questions with Correct Answers Construction Contract - Answer-A contract where one party constructs an asset for a customer. Fixed Price Contract - Answer-Contract with a fixed price or rate per unit of output. Cost-Plus Contract - Answer-Contract where the contractor is reimbursed for costs plus a fee. IFRS 15 - Answer-Standard for recognizing revenue based on goods or services transferred. Input Method - Answer-Accounting method based on efforts an...

Construction Contracts Exam Questions with Complete Answers

Construction parties owners- analysis, financing -(realty personnel for the parcel of land on market) -designer, a report describes the program requirements - construction docuemtn -contructors contructing procedures General contract method, separate contracts, self-performance, design-build, professional construction management method construction management at risk (CM at risk)

Construction Contracts Exam Questions with Complete Answers

acts of godEvents causing a project delay that are not caused by the owner or the contractor. Such delays often result in adjustments to the contract duration but not the contract amount. Actual AccelerationAn increase in the pace of construction as a result of a specific directive from the owner AddendaFormal changes or clarifications issued to all identified bidders by the owner or the owner's representative during the bidding period. Additional workconstruction work that was not r...

Construction Contracts & Law Exam 2 Questions and Correct Answers.

Construction Contracts & Law Exam 2 Questions and Correct Answers

Construction Contracts Final Exam Questions and Answers

Construction contracts midterm 1 Exam Questions and Answers