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Planning permission or building permit refers to the approval needed for construction or expansion (including significant renovation), and sometimes for demolition, in some jurisdictions. [1] [2] House building permits, for example, are subject to building codes. There is also a "plan check" (PLCK) to check compliance with plans for the area ...
A Letter of Understanding (LOU) is a formal text that sums up the terms of an undertakings of a contract which may have been negotiated up to this point only in spoken form or otherwise informally. It reviews the terms of an agreement for a service , a project or a deal and is often written as a step before a more detailed contract is issued.
In Design-Build, an owner develops a conceptual plan for a project, then solicits bids from joint ventures of architects and/or engineer and builders for the design and construction of the project. This is an alternative to the traditional model for public infrastructure projects that does not involve Private Financing.
Its membership is composed of design and construction industry professionals as well as project owners. DBIA promotes the value of design–build project delivery and teaches the effective integration of design and construction services to ensure success for owners and design and construction practitioners.
A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors .
In the United States construction industry, contract agreements are usually written to allow the owner to withhold (retain) the final payment to the general contractor as "retainage". [3] The contractor is bound by the contract to complete a list of contract items, called a punch list, in order to receive final payment from the owner.
construction the act or process of building or constructing; a structure; the construction industry from construe: the assigning of meaning to ambiguous terms road construction and maintenance work; roadwork ("a construction area/zone") (UK: roadworks) cooker an appliance for cooking food (US: cookstove, stove, range)
A letter of intent (LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a legally binding agreement. The concept is similar to a heads of agreement , term sheet or memorandum of understanding .
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