6. Match the following terms with the most correct explanation Term Explanation Payment Bond Provides the owner with an amount to cover the damages/costs if the apparent low withdraws Bid Bond Provides the owner with a means for completing the work if the contractor cannot complete it. Lien Protects suppliers, subcontractors and employees Non-payment by the General Contractor Performance Bond Used primarily in private contracting; the General contractor and first-tier subcontractors place a debt upon the facility if they haven't been paid.
6. Match the following terms with the most correct explanation Term Explanation Payment Bond Provides the owner with an amount to cover the damages/costs if the apparent low withdraws Bid Bond Provides the owner with a means for completing the work if the contractor cannot complete it. Lien Protects suppliers, subcontractors and employees Non-payment by the General Contractor Performance Bond Used primarily in private contracting; the General contractor and first-tier subcontractors place a debt upon the facility if they haven't been paid.
Chapter2: Loads On Structures
Section: Chapter Questions
Problem 1P
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Question

Transcribed Image Text:6. Match the following terms with the most correct explanation
Term
Explanation
Payment Bond
Provides the owner with an amount to cover the
damages/costs if the apparent low withdraws
Bid Bond
Provides the owner with a means for completing the
work if the contractor cannot complete it.
Lien
Protects suppliers, subcontractors and employees
Non-payment by the General Contractor
Performance Bond
Used primarily in private contracting; the General
contractor and first-tier subcontractors place a debt
upon the facility if they haven't been paid.
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