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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.
The Engineering and Construction Short Subcontract (ECSS) Allows the contractor to sub-let a simpler lower risk contract down the line to a subcontractor. It is back-to-back with the ECSC but is frequently used as subcontract when the main contract is under the ECS. The Professional Services Contract (PSC)
Subcontractor further agrees that Owner's payment to Contractor of all progress payments and final payment for any work performed by Subcontractor, other Subcontractors and Contractor shall be an express condition precedent to any obligation of Contractor to make any progress payment, retainages, or final payment to Subcontractor, and ...
The owner of a Hanford nuclear site subcontractor has agreed to pay the federal government $1.1 million to settle accusations that he and BNL Technical Services defrauded the federal government ...
Constellis and its predecessors provide contract security services [9] to the United States federal government. Since 2003, it has provided services to the Central Intelligence Agency. In 2007, Blackwater received widespread notoriety for the Nisour Square massacre in Baghdad, when a group of its employees killed 17 Iraqi civilians and injured 20.
Retainage is a portion of the agreed upon contract price deliberately withheld until the work is complete to assure that contractor or subcontractor will satisfy its obligations and complete a construction project. [1] A retention is money withheld by
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