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A cost plus contract states that a client agrees to reimburse a construction company for building expenses such as labor, materials, and other costs, plus additional payment usually stated as a percentage of the contract's full price. This type of construction contract is an alternative to lump sum agreements.
Secured by Design was created in 1989 as a response to perceived failings of the estates built in the UK's postwar era, with two focuses: the vulnerability of certain construction methods, such as doors or glazing that were considered easy for burglars to bypass; and the wider design of housing estates or urban areas, which often incorporated pedestrian routes that were thought to create ...
The 16 Divisions of construction, as defined by the Construction Specifications Institute (CSI)'s MasterFormat, is the most widely used standard for organizing specifications and other written information for commercial and institutional building projects in the U.S. and Canada.
Some design–build firms employ professionals from both the design and construction sector. Where the design–builder is a general contractor, the designers are typically retained directly by the contractor. Partnership or a joint venture between a design firm and a construction firm may be created on a long-term basis or for one project only.
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.
The New Engineering Contract (NEC), or NEC Engineering and Construction Contract, is a formalised system created by the UK Institution of Civil Engineers that guides the drafting of documents on civil engineering, construction and maintenance projects for the purpose of obtaining tenders, awarding and administering contracts.
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Engineering, procurement, and construction (EPC) contracts (a type of turnkey contract) are a form of contract used to undertake construction works by the private sector on large-scale and complex infrastructure projects. [1] They may follow a Front-End Engineering and Design (FEED) contract.
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