Chapter 32 - Construction and FF&E Contracts Flashcards
Contract documents consist of:
Owner-Contractor Agreement
General Conditions of the Contract
Supplementary Conditions of the Contract
Drawings
Specs
Addenda
Any additional docs specifically listed in the agreement
And modifications (i.e. change orders)
Are bidding documents part of the contract documents?
no (although they are often bound into the project manual)
Some provisions are common to all contracts and include:
a description of the work
the time of commencement and substantial completion
contract sum
________ is defined as the stage in the progress of the work when the work or a designated option thereof is sufficiently complete according to the contract documents so the owner can occupy or utilize the site, though a few minor items may remain to completed or corrected
substantial correction
_______ are moneys paid by the contractor to the owner for every day the project is late
liquidated damages
if a particular completion date is important to the owner, provisions for ______ may be included
liquidated damages
In many cases, a liquidated damage provision is accompanied by a ______
bonus provision so the contractor receives a payment for early completion
What is the most pertinent code for designers selling furniture and accessories to clients rather than just selling them?
Uniform Commercial Code (UCC)
Furniture and accessories may be shipped by a common carrier, contract carrier, or a private carrier. What’s the difference?
common carrier- publiccontract- only provides service to some companiesprivate- companies who own and operate their own trucks and move their own merchandise
If a common carrier is used, the responsibility for the furniture during shipment is _____.
whoever has title to the furniture bear the responsibility for damage or loss
There are several ways furniture and accessories are shipped and risk to the either the seller or the buyer is assigned by _____
the UCC
What does the term FOB mean?
free on board- the manufacturer pays for loading the goods onto a truck or train
is there another method than FOB?
no- everything is always FOB
FOB is followed by the word ____ or _____ (give examples)
factory or destination Ex: FOB Factory or FOB Los Angeles
What does FOB factory mean?
that the title is transferred at the factory.
