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In Area Maintenance Contract areas, where one contractor is awarded a contract area and performs all maintenance work except for rehabilitation and new construction. A list of Area Maintenance contractors currently under contract with the MTO includes: [3] Emcon Services Inc. Ferrovial Services/Webber Infra; Fowler Construction Company Ltd.
A lump sum contract in construction is one type of construction contract, sometimes referred to as stipulated-sum, where a single price is quoted for an entire project based on plans and specifications and covers the entire project and the owner knows exactly how much the work will cost in advance. [1]
A basis of estimate is an analyzed and carefully calculated number that can be used for proposals, bidding on government contracts, and executing a project with a fully calculated budget. [2]
In contract law the contract price is a material term. The contract price is the price for the goods or services to be received in the contract. The contract price helps to determine whether a contract may exist. If the contract price is not included in the written contract, then upon litigation the court may hold that a contract did not exist.
A bill of quantities is a document used in tendering in the construction industry in which materials, parts, and labor (and their costs) are itemized.It also (ideally) details the terms and conditions of the construction or repair contract and itemizes all work to enable a contractor to price the work for which he or she is bidding.
The U.S. Boeing KC-46 Pegasus contract was a fixed price contract. Due to its history of cost overruns, it is an example of how fixed price contracts place the risk upon the vendor, in this case Boeing. Total cost overruns for this aircraft have totaled about $1.9 billion. [10]
The Ontario provincial government has quarrelled with 407 ETR over toll rates and customer service but is largely tied down by the lease contract. On February 2, 2004, the government notified 407 ETR that it was considered to be in default of the contract because of 407 ETR's decision to raise toll rates without first obtaining provincial ...
These are prepared using drafting standards such as the NEC Engineering and Construction Contract or (formerly) the Institution of Civil Engineers' (ICE) Conditions of Contract. [2] In most cases, the architect will release these construction documents publicly, or to a select group of general contractors, who will then place a bid on the ...