51 Professional Practice Flashcards
What must be proven for damages to be collected from a strict liability in tort?
It must be shown that a product defect caused an injury. Negligence need not be proven nor must the manufacturer know about the defect before release
A tort is?
Civil wrong committed against a person or his/her property which results in some form of damages. Torts are normally resolved through lawsuits
What is a boilerplate clause?
Clauses that have specific wording that normally would not be changed
Lump sum fee
Fee agreed between owner and contractor, typically used for small projects where the scope of work is clearly defined
Unit price
Fees based on quantities and unit pricing. Works best when materials can be accurately identified and estimated before the contract is finalized.
Cost plus fixed fee
All costs incurred by engineer is paid for by owner/client. Client also pays predetermined fee as profit to contractor. Has advantage when scope cannot be accurately determined in advance.
Per diem
Engineer paid a specific sum for each day spent on job. Travel fees are included on top of the sum as well
Salary plus
Client pays the employees on engineer’s payroll plus an additional percentage to cover indirect overhead and profit plus certain direct expenses
Retainer
Minimum amount paid by the client for a normal amount or work expected during an agreed-upon period. Nonreturnable even is engineer performs little work.
Incentive
Based on established target costs and fees and lists min/max fees and an adjustment formula.
Percentage of construction
Pays engineer a percentage of the final total cost of the project.