Is it preferable to establish a filing system for an entire company or agency?

Q: Who  is empowered to execute contract modifications orChange Orders?

A: Contract modification means any legal change to the terms of a contract.

Q: Do the photographs help to identify errors in claims or any kind of disputes?

A: Photograph is an effective tool or evidence type which is most commonly used in case of error…

Q: Define the term Premises operations?

A: The process in which the policyholder is given liability for any kind of property damage or body…

Q: Do the contractors have the right to file claims?

A: Yes, the contractors have the right to file claims.

Q: What are claims and disputs?

A: Claim:

Q: Can the photographs be used by the Resident Project Representative as a tool of defense against the…

A: There are three kinds of photographs that need to be submitted by the contractor to engineer time to…

Q: What does the negotiation involve?

A: A Negotiation could be a strategic discussion that resolves a difficulty during a method that each…

Q: Classify some of the  claims issues?

A: The construction claim is defined as a claim against the owner, by the contractor, or a claim…

Q: Describe the management and Turnkey Contracts?

A: A Turnkey Contract is one under which the contractor is responsible for both the design and…

Q: Which of the following is not a pleading? subpoena answer complaint motion

A: The major pleadings are the complainant, the answer, the cross complainant, and the reply.

Q: Builders risk coverage is used to insure   A builder’s completed operations Property under…

A: Builders risk coverageis used to insure Property under construction

Q: What are the performance bonds?

A: Performance bond:

Q: How is mediation used as the dispute resolution tool?

A: The term mediation is defined as it is a consensual method of dispute resolution between parties in…

Q: How can fluctuation clauses be calculated?

A: Fluctuation clauses are the clauses that are added to a construction contract and are used to deal…

Q: Does every claim include some form of estimate?

A: Claims professionals square measure chargeable for estimating case outstanding on claims that square…

Q: Define the term FAA?

A: FAA means Federal Aviation Administration. It is a federal or governmental organisation of the…

Q: What do large and small misclosures mean?

A: Answer Misclosure is used in the field of the survey to find the error in the measurement or in…

Q: essary to retain at least one set of origi

A: When choosing a vendor to subcontract a project to, or to buy materials and services that are…

Q: What is a written contract?

A: - A Written Contract is a type of legal document which is a printed or manually written agreement…

Q: What is an Advanced Payment Bond?

A: An advanced payment bond is also called an advanced payment guarantee, it is provided by the party…

Q: Is the Special Provisions concept limited to public agencies?

A: No, the Special Provision concept is not limited to Public Agencies, which is generally government…

Q: What are some methods that are used to monitor delay or disruption of a contract?

A: Answer:- Delay in contract:- Delay is one of most common problem in construction projects resulting…

Q: Which formula can be used to estimate the Book Value?

A:

Q: How can the documentation of claims defence prepared?

A: The construction claim is defined as a claim against the owner, by the contractor, or a claim…

Q: What purpose does an audit trail of documents or transactions provide?

A: An audit trail can be both an electronically and a paper-based trail which can gives a documented…

Q: Why is it important to understand how to choose the correct type of consruction contract to issue?

A: Answer:- Construction contract:- It is a mutual or legally binding agreement between two parties…

Classification of Legal Structure

The first step for the establishment of any company is to find a suitable legal structure. To determine the appropriate legal structure for a specific company or a venture, professional guidance is necessary for the deep understanding of various structure classifications, long-term targets, and certain choices. The categorization of different business legal structures comprises liability implications, income and taxation considerations for the company owners.