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The balance to finish is then calculated by subtracting the total completed to date from the original line item total. The Architect or Owner’s representative will then review and approve the amount due to the contractor during that pay period. A template that can be used for a typical SOV is the ConsensusDocs 293 - Schedule of Values. [2]
A general contractor is a construction manager employed by a client, usually upon the advice of the project's architect or engineer. [7] General Contractors are mainly responsible for the overall coordination of a project and may also act as building designer and construction foreman (a tradesman in charge of a crew).
The International Federation of Consulting Engineers (commonly known as FIDIC, acronym for its French name Fédération Internationale Des Ingénieurs-Conseils) is an international standards organization for construction technology and consulting engineering. The organization is best known for the FIDIC suite of contract templates.
General Requirements Subgroup. Division 01 — General Requirements; Facility Construction Subgroup. Division 02 — Existing Conditions; Division 03 — Concrete; Division 04 — Masonry; Division 05 — Metals; Division 06 — Wood, Plastics, and Composites; Division 07 — Thermal and Moisture Protection; Division 08 — Openings; Division ...
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.
A barrister by profession, from 1951 Povey was a legal adviser to the NFBTE (later the Construction Confederation) and at the same time began to assist the Joint Secretaries of the JCT, later succeeding Howard Close [31] as NFBTE Joint Secretary before being appointed the first Secretary-General of the restructured Joint Contracts Tribunal ...
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