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American Society for Testing and Materials
(ASTM) A national organization whose purpose is to establish standards on materials, products, systems, and services
Punchlist
- a result of architect's inspection, identifies the work to be completed or corrected
Calendar days
365 days of the year
indemnification clause
A clause in which one party agrees to compensate another for a loss or damage that is sustained.
express contract
A contract in which the terms of the agreement are fully and explicitly stated in words, oral or written.
executed contract
A contract that has been completely performed by both parties.
executory contact
A contract that has not yet been fully performed.
implied contract/ agreement
A contract under which the agreement of the parties is demonstrated by their acts and conduct.
Cost plus
A contract where payment is for material and labor, with a profit factor added.
lump sum contract
A contract with a fixed total price for a well-defined product or service; also called a fixed-price contract
Specialty contractor
A contractor whose operations involve the performance of construction work requiring special skill and whose principal contracting business involves the use of specialized building trades or crafts.
Alternate
A defined portion of the work that is separate to provide an option to the owner.
Specifications
A detailed description of the design and materials used to make something.
design specifications
A detailed description, especially one providing information needed to make, build, or produce something.
Bid form
A document used to submit a bid to an issuer of a competitive municipal bond underwriting
Non-standard construction
A grammar construction which deviates from the norm
Certificate of insurance
A legal document that indicates that an insurance policy has been issued, and that states both the amounts and types of insurance provided.
Construction contract
A legal document which specifies the what-when-where-how-how much and by whom in a construction project.
estoppel
A legal impediment to denying a fact or restoring a right that has been previously waived.
designer
A person who designs any of a variety of things. This usually implies the task of creating drawings or in some ways uses visual cues to organize his or her work.
Public owner
A public entity such as a local, state, or federal government, or a certain institution whose project is paid for with public funds
express warranty
A seller's or lessor's oral or written promise, ancillary to an underlying sales or lease agreement, as to the quality, description, or performance of the goods being sold or leased.
Builder's Risk Insurance
A specialized form of property insurance that provides coverage for loss or damage to the work during the course of construction.
Penalty Provision
A specified sum of money that is charged against a contractor for each day that project completion is delayed. The amount is greater than the amount of the liquidated damages because a portion of it is considered punitive assessment. To be valid, such a provision must also compensate or reward the contractor for early completion.
Boiler Plate
A standard portion of a written document, such as a contract or specifications that appears in all similar documents.
bid bond, bid security
A type of insurance that the bidding contractor provides ensuring they will enter into contract with the owner. This protects the owner from selecting a winning bid that will not be executed, putting them at risk for wasted time or increased bids in a second round of bidding. Also protects owner from a contractor placing low, unrealistic bids to successfully execute the project, and against contractors bidding on too many projects at once, winning more than they can execute, and not accepting the project after winning the bid.
Change order
A written order signed by the contracting officer, directing the contractor to make changes that the changes clause of the contract authorizes the contracting officer to order without the consent of the contractor.
Professional construction management method
Agent of the owner One of the contracting procedures methods in the construction industry Is advisable on large/complex projects when construction expertise is needed during the design phase The role of the CM is to ensure that the project is delivered to the owner according to the plans and specifications. The compensation of the CM is arranged between the owner and the CM, the payment to the CM maybe based on a flat fee. The CM often gives the owner a GMP Guaranteed maximun price that the project cost will not exceed
fixed price contract
An agreement that sets the fee that will be paid for a defined scope of work regardless of the cost or effort to deliver it.
fixed-price contract
An agreement that sets the fee that will be paid for a defined scope of work regardless of the cost or effort to deliver it.
liquidated damages
An amount, stipulated in the contract, that the parties to a contract believe to be a reasonable estimation of the damages that will occur in the event of a breach.
delay
An animation setting that specifies how long the effect should pause before it begins.
separate contract's method
An arrangement by which the owner lets contracts directly to specialty contractors for various portions of the work
Private owner
An individual, organization, corporation, or business(es) that pays for a project (typically, through short-term construction loans) without using public dollars.
Payment bond
Bond that may be required of a building contractor to compensate the property owner if the contractor defaults in performance of contract obligations, such as payment of subcontractors, workers, and suppliers.
Incentive clause
Clause in a cost plus fee contract between the owner and contractor in which the savings between the guaranteed maximum cost and the actual project cost are proportionally shared.
Owner caused delays
Construction Delays directly attributable to the action or lack of action of the owner. Generally the contract duration will be extended for such delays, and the contract amount may be adjusted.
Contractor caused delays
Construction delays caused by or under the control of the contractor. No contract adjustments are associated with such delays.
excusable delays
Delays for which time extensions are granted. Such delays typically include acts of God and owner-caused delays.
Shop drawings
Drawings prepared by the contractor, subcontractor, manufacturer, or supplier, showing how specific portions of the work shall be fabricated and/or installed.
Acts of God
Events causing a project delay that are not caused by the owner or the contractor. Delay by weather
final acceptance
Is the owners acceptance of the project from the contractor after the entire work is completed, tested, and inspected in accordance with the contract requirements. This is when the final payments are made to the contractor and subsequently subcontractors (last 10%)
rain delay
Lets you turn the irrigation system off for a specific number of days without having to remember to turn it back on.
Approved equal
Material or method that is approved by the architect as being equivalent to what was originally specified.
turn key construction
Once the house is completely done
subcontractor
One who has a contract with a prime contractor to perform a portion of the work.
Special conditions
Part of the contract documents, other than the general and supplementary conditions, describing unique conditions of a project.
Progress payments
Payments made to the contractor during progress of the work on account of work completed and/or materials suitably stored.
differing site conditions
Physical conditions on a site that differ from what was shown in the bidding documents or from what would reasonably be expected.
As-Built drawings
Record drawings completed by the contractor and turned over to the owner at the end of the project identifying any changes or adjustments made to the conditions and dimensions of the work relative to the original plans and specifications.
Standard Specifications
Refers to an entire set of technical specifications that have been developed by an owner. Once developed, specs can be used for many similar projects. Higway, bridge, utility construction.
Lawful subject matter
Subject matter but be legal before, during the entering of a contract. If it is illegal and becomes legal, it is still void
Performance Specifications
Tell what results the final construction assembly must achieve, but they give the contractor some choice in how they will be achieved.
Condition of the contract
The insurer's responsibility to pay for a property loss may be conditioned on the insured having used reasonable means to avoid the loss, to protect the property against further loss, and to give the insurer proof of the loss.
instruction to bidders
The list of instructions stipulating the manner on how bids are to be prepared and conditions for the award of contract.
Considerations
The many pieces of information a person uses to form an opinion.
Notice to proceed
The owner authorizes the contractor to begin work on a project on a particular day or as soon as possible. This notice is linked to the duration of the project.
design build
The owner contracts with one entity (a person or firm) to provide both design and construction services, that entity then subcontracts portions of the work to others as needed
Completetion
The visual system interpolates the blind spot based on surrounding detail and information from the other eye
Davis-Bacon Act of 1931
This law requires the payment of "prevailing wages" to employees of contractors and subcontractors working on government construction projects.
Assignment of Contract
Transfer of all rights under a contract to a third party. Assignor remains secondarily liability.
Offer and acceptance
Two essential components of a valid contract; a "meeting of the minds."
field change
Type of change that has no impact on the contract's duration or amount
Bonding Company
Who pays for a contract that has been trusted with a surety bond when the undertaker cannot pay for the funeral
encumbrance
a burden or impediment
Contractor
a person who agrees to provide services for a specific price
Owner
a person who owns something
Agent
a person who works for someone else in a team project
Lien
a right to keep possession of property belonging to another person until a debt owed by that person is discharged.
holidays
a time when you do not have to go to work or school
Canned specifications
a typical or base template for the written description of the drawing
implied warranty
an unwritten guarantee that the good or service is fit for the purpose for which it was sold
disclaimer
assertion designed to forestall any complaints or negative reactions to a behavior or statement that is about to occur
Certificate of Substantial
certificate which sufficiently of a project is complete
Soil boring logs
classification of existing soil
General conditions
conditions of corrections in the community that are standard across convicted offenders
drawings
owner's equity
final payment
payment on a simple interest loan that consists of the remaining balance plus the current month's interest
Master specifications
prewritten specifications that cover nearly all types of products, methods of installation and other variables that relate to a specific product or construction activity.
Non-Collusion affidavit
statement by a bidder under oath that the bid was prepared without collusion of any kind.
Plans
the actions or means managers intend to use to achieve organizational goals
interest expense
the interest accrued on money borrowed
Bonding capacity
the number of covalent bonds an atom forms to have an octet of electrons in its valence shell
Negotiated contract
the owner selects a contractor to do the work and then has the contractor look at drawings and work up a price quote
Offer
to bring forth ideas; to propose or present
Mutual agreement
when all parties agree to the terms of the contract
Agreement
written document signed by each party instrument that binds them together.
Addendum
written or graphic instrument, issued to clarify, revise, delete in documents