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  2. Contract data requirements list - Wikipedia

    en.wikipedia.org/wiki/Contract_Data_Requirements...

    Guidance on how to fill in and handle DD Form 1423-1 is provided in publication 5010.12-M. Other US government agencies may include CDRLs in contracts, but these will not use the military's DD Form 1423. Most data items are developed and delivered in compliance with pre-defined data item descriptions (DID).

  3. Schedule of values - Wikipedia

    en.wikipedia.org/wiki/Schedule_of_values

    A Schedule of Values (SOV) is a detailed schedule apportioning the original contract sum and all change orders, among all cost code divisions or portions of the work. The Schedule of Values shall be based on the approved budget or the approved Fixed Price, or GMP, Cost-Plus Contract type as applicable.

  4. Subcontractor - Wikipedia

    en.wikipedia.org/wiki/Subcontractor

    Subcontractor agrees that all progress payments and final payment to Subcontractor are contingent upon and subject to Owner's acceptance of Subcontractor's work and upon contractor's receipt of payment from Owner. Subcontractor agrees to accept the risk of non-payment if Contractor is not paid progress payments and/or final payment from Owner ...

  5. Shop drawing - Wikipedia

    en.wikipedia.org/wiki/Shop_drawing

    Shop drawings are required, in various forms, depending upon the practice of the architect and engineer. A specific number of copies may be required by the specification. An example distribution of the completed and corrected shop drawings may include the: Owner—file or inspection copy; Architect—file copy

  6. Retainage - Wikipedia

    en.wikipedia.org/wiki/Retainage

    For example, a subcontractor performing site work may complete its work in the first few months of the construction project, but generally is not allowed to recover the amount withheld from the owner and contractor until the project is "substantially complete", which could take a few years depending on the size of the project.

  7. Musk's SpaceX is quick to build in Texas, slow to pay its bills

    www.aol.com/news/musks-spacex-quick-build-texas...

    SpaceX is building launch facilities, office buildings and even a shopping center in rural Texas, as billionaire Elon Musk's space venture rapidly expands its rocket and satellite business across ...

  8. Independent contracting in the United States - Wikipedia

    en.wikipedia.org/wiki/Independent_contracting_in...

    The distinction between independent contractor and employee is an important one in the United States, as the costs for business owners to maintain employees are significantly higher than the costs associated with hiring independent contractors, due to federal and state requirements for employers to pay FICA (Social Security and Medicare taxes) and unemployment taxes on received income for ...

  9. Construction contract - Wikipedia

    en.wikipedia.org/wiki/Construction_contract

    The exact provisions will depend on the specific form of contract being is adopted. For example, in the Joint Contracts Tribunal (JCT) Design and Build Contract, the base date determines the allocation of risk in relation to changes in statutory regulations, changes to VAT exemptions and changes to definitions of dayworks. Under the JCT's ...

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