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.
Determine the types of losses of prestress A loss of prestress will affect the stress distribution on a section of the member. It is therefore necessary to estimate the probabl
Q. ACSR (Aluminium Conductor Steel Reinforced) are utilized as (A) over head transmission lines. (B) super conductors. (C) fuse
difination of magnative bearing
Why hybridisation never take in isolated atom
rame of unequal length
Question What is main function of followers in driven H-piles ? Answer A follower is an extension between pile head and hammers which transfers blow to pile in which
Define Diving Equipments for Underwater Inspection of Bridge? Generally two types of diving, Scuba diving and surface supplied air diving, is employed in underwater inspection
Demonstrate the economical design of concrete A safe, serviceable and economical design of concrete structures requires a comprehensive knowledge of the loads expected to be a
What is 'contact pressure'? How does it depend on the type of structure and type of soil? What is 'active zone' in soil? Define it with reference to the pressure bulb concept.
Facilities that discharge wastewater to a publicly owned treatment works? Facilities that discharge wastewater to a POTW (publicly owned treatment works) are known as subject t
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: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd