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OCIPs are also frequently referred to as "wrap-up insurance" or "wrap policies" in the insurance industry. [1] [4] The traditional method for insuring construction consisted of each general contractor (GC) and subcontractor obtaining their own insurance policies from any provider of their choosing. In turn, they would build their policy ...
A commercial contract is an agreement containing all the work that should be performed for the construction of a commercial building or non-residential building. A skillfully constructed commercial contract can protect both parties' interests, minimize risks, and increase profitability for the contractor.
Construction of the Pentagon, 1942.. The Miller Act (ch. 642, Sec. 1-3, 49 stat. 793,794, codified as amended in Title 40 of the United States Code) [1] requires prime contractors on some government construction contracts to post bonds guaranteeing both the performance of their contractual duties and the payment of their subcontractors and material suppliers.
Construction law builds upon general legal principles and methodologies and incorporates the regulatory framework (including security of payment, planning, environmental and building regulations); contract methodologies and selection (including traditional and alternative forms of contracting); subcontract issues; causes of action, and liability, arising in contract, negligence and on other ...
A design agreement between an employer and a specialist designer; Forms of tender for issue by an employer to prospective main contractors and for issue by a main contractor to prospective subcontractors and for issue by a subcontractor to prospective sub-sub-contractors; A form of contract for the supply of goods;
Another type of insurance you may be required to purchase if you have a mortgage is earthquake coverage. This is more likely if you live in an area where earthquakes are common, such as parts of ...
The Boston Harbor reclamation project that began in the 1980s became the focus of debate over the legality of PLAs. [12] [13] When the Massachusetts Water Resources Authority elected to use a PLA for the project that mandated union-only labor, [14] the Associated Builders and Contractors of Massachusetts/Rhode Island, Inc. challenged its legality, asserting that the use of a PLA was prohibited ...
Failure to meet these requirements may result in either limitation of future funds or termination of assistance. Specific requirements for matching, level of effort, and earmarking are unique to each federal program, and are described in the laws, regulations, and contract or grant provisions that pertain to the program. [24]