PPT2 Flashcards
- A _______ is an agreement with specific terms and conditions between two or more persons or between Owner & the Contractor in which there is a promise to execute or do some work.
Labor contract
- In a Labor Contract, all materials required for the construction are supplied by the _______.
Owner
- The owner pays the contractor the labor amount as stipulated in the contract based on _______.
percentage accomplishment
- A Labor Only Contract means the contractor provides labor workforce from _______, _______, _______, _______, and _______ necessary to complete the project.
supervision, interpretation of plans, skilled workers, tools, and equipment
- In any project, a _______ is always an assurance to both Owners and Labor contractor that the project will be done as long as materials are on stock.
guaranteed material inventory
- The _______ is responsible for providing adequate labor and carrying out and completing the particular scope of work.
Contractor
- GMQ stands for _______.
Guaranteed Materials Quantity
- Labor-Only Contracting refers to an arrangement where the contractor merely _______, _______, or _______ workers to perform a job or work for a principal.
recruits, supplies, or places
- If contractor exceeds the no. of guaranteed quantity, he _______ to finish the project. If he does not exceed and has surplus quantity, then _______.
spends for the excess materials required just to finish the project; keeps the surplus materials as his savings and profit.
- GMQ means that _______% of the materials forecast (estimate) for a given time shall be guaranteed by the owner to the contractor.
50
- It is very important that the estimates are within the parameters of the project inventory and following strictly the _______, _______, and _______.
quantity, specifications, and estimates
- One advantage of a Labor Only Contract for the owner is the assurance of _______ of materials.
quality
- The owner saves costs because he saves the profit on _______ cost.
material
- Another advantage for the owner is that project _______ is faster.
project turnover
- A disadvantage for the owner is that the quality of _______ is most of the time compromised.
workmanship
- In a Labor Only Contract, the GMQ system is advantageous to the _______.
contractor
- Another disadvantage for the owner is that _______ on materials is rampant.
pilferage
- A pakyaw system means that labor rates are _______, but there are no government-imposed benefits to the workers.
a bit higher
- Workers in a Labor Only Contract are under a no work, no pay system, also known as _______.
project basis employment
- In a Labor Only Contract, excess/surplus on GMQ is to the _______.
contractor
- A disadvantage for the contractor is inclement _______ conditions.
weather
- Another disadvantage for the contractor is slow delivery of _______.
owner-supplied materials (OSM)
- Safety concerns such as _______ are disadvantages in a Labor Only Contract.
accidents
- A sudden increase in _______ imposed by the government is another challenge for the contractor.
wages
- Changes in the _______ can cause issues for the contractor in a Labor Only Contract.
plans
- Contractor provides labor work force
Supervision, Interpretation of Plans, Skilled Workers, Tools, Equipment.
- Different types of construction contracts
Lump Sum Contract, Labor Only Contract, Cost Plus Contract, Unit Price Contract, Time and Materials Contract, Guaranteed Maximum Price Contract (GMP), Design and Build Contract, Turn-Key Contract, Build-Operate-Transfer (BOT), PPP Contract.
- The parameters of the project inventory follow strictly the
quantity, specifications and estimates.
- Advantages of a Labor Only Contract for the owner
Assurance of quality materials, Cost savings, Faster project turnover.
- Disadvantages of a Labor Only Contract for the owner
Quality of workmanship may be compromised, High risk of pilferage, GMQ favors the contractor.
- Advantages of a Labor Only Contract for the contractor
No government-imposed benefits, Project basis employment, Surplus from GMQ is to the contractor.
- Disadvantages of a Labor Only Contract for the contractor
Inclement weather conditions, Slow delivery of owner-supplied materials (OSM), Sudden increase in wages, Plan changes, Safety concerns.
