UNIT 2

Question 1

Certification of Practical Completion

Answer 1

Issued by the principal agent when all or part of the projects is deemed sustantiably complete and usable as intended, signed on the date

Question 2

Certificate of Final Completion

Answer 2

Issued by the principal agent when all works are free from all defects, and on which the date of final completions is signed as complete

Question 3

Employer

Also Called Client

Answer 3

Party wishing to have the project completed

Question 4

Tender

Answer 4

The contractor’s offer to complete a project

Question 5

Penalty

Answer 5

Monetary value calculated at a rate per calendar day, should breach of contract occur

Question 6

Retention

Answer 6

A monetary deposit as a payment reduction from the value in the payment certificate, for project security

Question 7

Programme

Answer 7

A visual representation of the planned execution of works or activities, indicating the dates of incitement and completion, for the constractor’s use

Question 8

Final Account

Answer 8

A documents which reflects the contract value of the works at Final Completion/ Termination

Question 9

Contract Value

Answer 9

The monetary value equal to the contract value, adjustable according to agreement