Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Explain the Statements about the Construction Contract Process
I. Surety bond assures the project owner a guarantee of funds equivalent to a promissory note. The surety bond is a promise to pay the owner a certain amount if the contractor fails in fulfilling the terms of a contract.
II. Performance bond is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. Performance bonds are issued upon Contract award and cost approximately 0.50% to 1.25% of the total contract value.
III. Builder's risk insurance is a special type of property insurance which indemnifies against damage to buildings while they are under construction. Risk insurance of Builder is coverage that protects a person's or an organization's insurable interest in materials, fixtures and/or equipment being utilized in the construction or renovation of a building or structure should those items sustain physical loss or damage from a covered cause
IV. A bid bond is issued as part of a bidding process by the surety to the project owner, to assurance that the winning bidder will undertake the contract under the terms at that they bid. The cash deposit is subject to full or partial forfeiture if the winning contractor fails to either execute the contract or provide the required performance and/or payment bonds. The bid bond assures and assurance that should the bidder be doing well, the bidder will execute the contract and provide the required surety bonds.
V. Bonds are not insurance. Bonds are a guarantee to pay made by a cosigner who is liable only if the principal fails to discharge the obligations under the Contract.
Uses of Stones Stones are used in the following civil engineering constructions are described: (i) Stone masonry which is used for the construction of foundations, , columns
Please check the file
Question What is key role of drilling fluid in rotary drilling in site search? Answer Drill fluid in rotating serves two main reasons. (i) Facilitate rotation of
What is exogenous tree?
what is a couple?
Q. Water control for sheet pile walls? Ground water flow into excavations constructed by sheet pile walls must be minimized in order to save the cost of the provision of pumpin
Determine the term - Final Tension The tension in tendons after losses of prestress have taken place is called as final tension. Final tension is taken to be corresponding to
Grouted or Penetration Macadam:
Explain the Statements about the Construction Contract Process I. Surety bond assures the project owner a guarantee of funds equivalent to a promissory note. The surety bond is
when i have solved the given assignment work then how will you pay me for that work??
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd