CPD Record Flashcards
1
Q
Why is a BoQ critical to project success?
A
It lays out all works that need to be completed, that make up the contract sum. It allows you to ensure that you have let all works.
2
Q
What are the risks around using a LOI?
A
The contract is not signed.
There is no allowance for LADs.
There is no formal contract entered into.
Liability is capped.
3
Q
What does the term vesting mean?
A
Gaining full ownership of an asset, usually materials off site.
