BS Misc. Flashcards
Factors that go into underwriting a policy for professional liability
insurance include
- firm’s risk management procedures
- current financial market
- types of services the firm offers
- amount of the firm’s annual billings (Insurance premiums are based
in part on a firm’s annual billings. This is because the more
services the firm provides and consequently bills for its services,
the higher its exposure to risk is.)
A large hotel is in the design development phase. The contracted
lighting designer is preparing their deliverables per their contract
when the owner requests that the contracted electrical engineers
complete the lighting design. According to the Standard Agreement
Between Architect and Consultant, how should the architect proceed with
regard to the lighting designer?
According to the C401-Standard Agreement Between Architect and Consultant, ““in the event of termination of this Agreement not due
to the fault of the Consultant, the Architect shall pay the Consultant a Termination Fee and for the Architect’s continued use
of the Consultant’s Instruments of Service.
Betterment
“The concept of betterment allows the client to pursue a claim
against the architect for the difference between the cost of the
carpet now, versus what it would have cost if included in the
original bidding documents.
Reference: The Architect’s Handbook
of Professional Practice, 15th edition, p. 176”
Operating Agreement
“Operating agreements are documents used when forming an LLC to
establish rules and guidelines for how the company will operate,
including percentages of ownership. Such an agreement is mandatory
in a few states, and usually done even in states where it is
optional.
Law for Architects: What You Need to Know (2012), p.
110-112”
“NCARB Rule of Conduct 2.4, when an architect is acting as the
interpreter of building documentation, they shall…”
“…render decisions impartially, favoring neither party to the
contract”
- Common ways an architect can charge a client for services? (4)
”- Monthly, based on hours
- Percentage of completion
- Retainers
- Project Milestones”
- Business Interruption Insurance
“This insurance reimburses the architect for ongoing expenses and
loss of profits in the event of a casualty that interrupts normal
business operations, including computer crashes and loss of data”
”- Negative consequences of hiring an employee at an architectural firm as
a consultant instead of an employee”
”- Tax liabilities (IRS classifies employees and consultants
differently)
- Exposure to fraud
- lost benefits for employee (consultants not required to be covered
under firm’s insurance plans and other employment benefits)””
Reference: Law for Architects”
Cadastral Map
Cadastral maps shows boundaries, ownership, and attributes of properties. They are typically used for tax assessment maps, zoning maps, and permit granting. These maps are authored by the Federal Geographic Data Committee.
Thematic Map
Thematic maps are used to represent socioeconomic data and understand the underlying principlates through colors and symbols. While some boundary lines may appear on these maps to denote counties or towns, it is unlikely that information specific to the client’s property extents would be shown in accurate detail.
Chroropleth Map
Choropleth maps are typically a type of census map which show different variables through colors or shades of grey. It is unlikely that property boundary information would be found on these types of maps, and if it is, it is unlikely to contain the level of accuracy needed to inform a master plan.
“at will” employment
”- common employment for architectural firms
- employer can be terminated at any time, for any reason, with or without notice
(also check ““Law for Architects””)”
mutual non-disparagement agreement
means that both parites agree not to disparage the other. used when an employer terminates an employee.
release-and-severance agreement
helps avoid future lawsuits. (add definition)
Memorandum
A memorandum is a more abbreviated description than might appear in a meeting minutes, but provides the necessary level of detail about project decisions.
