Nature of Construction Contracts Introduction For this assignment the writer is going to discuss the nature and types of construction contracts and will explain the legal responsibilities of the various parties involved in the design and the construction process. Using different types of sources an explanation to the basic principles of contract law and how they apply. From doing this there will then be an explanation to what extent standard forms of contract are special types of contract. Contract
Premium Construction Contract Contract law
Brandon Leung CAE 460 – KL February 2‚ 2015 Assignment #1 2.1: What are the three major types of construction bonds? Why are they required? Name three items that affect bonding capacity. Three major types of construction bonds are: Performance Bonds‚ Payment Bonds‚ and Securing Bonds. They are required because a bond allows one party (Obligee) to protect itself against default in a relationship with a second party (Principal). A third party (Surety) provides this protection. Three items that
Premium Construction General contractor Insurance
WHAT IS ECO FRIENDLY CONST Eco-friendly‚ or ecological‚ construction is building a structure that is beneficial or non-harmful to the environment‚ and resource efficient. Otherwise known as green building‚ this type of construction is efficient in its use of local and renewable materials‚ and in the energy required to build it‚ and the energy generated while being within it.Eco-friendly construction has developed in response to the knowledge that buildings have an often negative impact upon our
Premium Green building
Notes to Consolidated Financial Statements Note 1 Business and Summary of Significant Accounting Principles (10 items) Description of Business The Open-Road Motorcycle Company is the largest online retailer of salvage title motorcycles. We are focused on bringing the customer the best value on entry level motorcycles by providing lower prices than our competitors. Our motorcycles are sold all over the United States‚ and we currently have 30 stores all across the country. Property‚ Plant
Premium Balance sheet Asset Generally Accepted Accounting Principles
17) Section 10 18) Section 11 Abstract Green building construction refers to a structure and using process that is environmentally responsible and resource-efficient throughout a building’s life-cycle: from job siting to design‚ construction‚ operation‚ maintenance‚ renovation‚ and demolition. This method of construction is a growing concept utilized by entire construction industry. Sustainable or “green building” design and construction is the opportunity to use our resources more efficiently
Premium Construction Concrete
Chadwick Construction Case Analysis Introduction Chadwick Construction Company has had a significant increase in demand over recent years and has encountered multiple project management problems during this time. As a result‚ CCC’s general manager is considering the possibility of hiring a project manager for project scheduling and keeping track of the progress of subcontractors at work sites. CCC management is interested in knowing the expected completion time for a house if a project manager were
Premium Project management Construction
THE GLOBE CONSTRUCTION COMPANY The Globe Construction Company top management held a management workshop one weekend in April of 1989 for the purpose of discussing present policies and procedures with the ultimate objective of formalizing these in a new company operations manual. The company was established in the mid-50s by Mr. Eduardo Concepcion. The company grew at a very fast rate due to the construction boom in the government sector during the administration of ex-President Ferdinand E. Marcos
Premium Project management Construction
in the construction industry in China Nowadays‚ construction industry in China is experiencing a fast development and an abundance of skilled workers are needed to meet such development need. However‚ the situation in China is unsatisfactory. Because of the huge number of the workers involved and mobility of the workforce‚ it is difficult to ensure the professional quality of workers. Most of them are poorly trained‚ which may give birth to many problems such as poor quality of the project‚ delay
Premium Vocational education Apprenticeship Training
suing Borinstein over a dispute that erupted over payments on a construction project that were not received; on a project Slavin was building for Borinstein. Borinstein and her people agreed to pay Slavin 10 percent of the cost on a house they wanted to build in Los Angles. They would make the payments in installments. Slavin began to not receive payment for the appellant; then Borinstein’s lawyer tried to modify the contract mid project‚ therefore trying to reduce the amount owed to Slavin. The two
Premium Contract
“Social Construction of Reality” Reality is not an objective thing that is imposed upon us‚ but is created by us. Reality does not exist externally but internally‚ as each individual or group interprets it‚ and is always changing. Due to these concepts sociologists often speak about the “social construction of reality” which is essential to understand when attempting to explain human social behavior. Since realty is the basis of people’s actions‚ W. I. Thomas states‚ “If people define situations
Premium Sociology Reality