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Fundamentals Of Construction Estimating

Fundamentals Of Construction Estimating

4th Edition

ISBN:9781337399395

Author:Pratt, David J.

Publisher:Pratt, David J.

Chapter15: Closing The Bid

Section: Chapter Questions

Problem 9RQ

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What is the difference between bid bonds and maintenance bonds?

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What are the three major types of construction bonds? Whyare they required? Name three items that affect bondingcapacity.
What are the typical values of a Performance bonds?
Define the term Instant contract savings?
Differ between the unit price contract and contract price?
How are A) Risk B) Term Structure and C) Yield Curve related in the mind of a Bond Investor?
what are the advantages and disadvantages of the four basic contract types? -lump sum, cost-plus-free, guaranteed maximum price, unit price contracts
. Is the contract lump-sum, unit-price, or cost-plus-fixed-fee?
What are some common factors that affect the performance of contracts?
Explain how an estimate is priced in two phases.
Why are monthly reports of Contract Performance important?
Discuss the role of the Contract Administrator as the Employer's Agent and as an independent Adjudicator. Who is an Engineer? Explain the procedures of becoming a fully registered Engineer in Uganda What is Insurance? Explain the types of Insurances used on construction projects. Further differentiate between a Bond and Insurance. Explain the types of Bonds you know.
A practice related to construction finance that can be interpreted as unethical is: A. front-loading a schedule of values and payment application B. intentionally submitting payment applications late C. withholding additional retainage on a payment application D. invoicing for approved change orders

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