COSC 463 Test #2 Chapter 13 (100% Verified)

Owners include provisions that protect them in the event of a delay, these include correct answers Liquidated Damages Clauses Default Termination Clauses Contract Clauses that excuse the contractor/sub from certain delays include correct answers Force Majeure Clause Scheduling Clause Time extension Clause Changes Clause Claims Clause CPM (Critical Path Method) correct answers is a detailed mathematical model of construction plan that generally requires computes to manage and implement. Used to determine what work must be completed at any point in time to stay on track. Owners may use as a way to track the contractors performance and can be a way to compute progress payments Parties Contract Identifies correct answers Performance time and how it will be measured Scheduling requirements Adjustments to the performance time Allocation between the parties of financial risk Under common performance time is not a _________ term of a construction contract, unless discussed in their agreement. correct answers Material Time of the essence clause correct answers Results from common law rule that implys that the contractor has "reasonable time" to perform its work Most time-related questions arising on construction contracts begin with the contract _____ and _____ ______ correct answers Start and Completion dates Interm milestone dates correct answers identify the dates certain elements of the work must be completed Failure to meet milestone dates may provide basis for claims for.... correct answers liquidated damages Acceleration Directive Possible Termination Date of commencement of work by owner correct answers Date given by owner deeming to have warranted that the work site will be ready for work to proceed on that date.