CONTRACTS Flashcards
1
Q
What are the “Basic Services” described in B101 ?
A
The 5 traditional phases of a design bid build project;
- Schematic Design
- Design Development
- Construction Documents
- Bidding or Negotiations
- Construction Administration
2
Q
Article 1, “Initial Information”
A
Requires the architect and owner to give certain information and assumptions about the project, as known at the time of contract execution.
- Project objective
- site information
- the owner’s program
- physical, legal, financial and time parameters
3
Q
Surety Bond
A
Three-party agreement between a surety, a contractor, and an owner. Typically and insurance company, it promises to satisfy the contractor’s obligations if the contractor fails to perform in accordance with the construction contract.
