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The NEC contracts now form a suite of contracts, with NEC being the brand name for the "family" of contracts. [16] When it was first launched in 1993, it was simply the "New Engineering Contract". This specific contract has been renamed the "Engineering and Construction Contract" which is the main contract used for any construction based project.
Under a lump sum contract, a “fixed price” for the work to be done is agreed upon by the client and contractor before the work begins. This contract can also be applied to both home building and commercial contracts. It can be more of a risk to the contractor as there are fewer mechanisms to allow them to vary their price.
This is an accepted version of this page This is the latest accepted revision, reviewed on 17 January 2025. Cleaning service provided for commercial buildings and establishments "Cleaning company" redirects here. For the Australian documentary film also known as "The Cleaning Company", see Clean (2022 film). This article needs additional citations for verification. Please help improve this ...
Typical Lump Sum Contract Structure. A lump sum contract in construction is one type of construction contract, sometimes referred to as stipulated-sum, where a single price is quoted for an entire project based on plans and specifications and covers the entire project and the owner knows exactly how much the work will cost in advance. [1]
Depending upon the language in the bid proposal, a subcontracting construction company could make its bid final, and, if accepted, a legally enforceable contract is created. In these circumstances, upon determination by the general contractor that a bid is the lowest offer, it can accept the bid and, upon acceptance, a subcontractor cannot ...
Pages in category "Building and grounds cleaning and maintenance occupations" The following 4 pages are in this category, out of 4 total. This list may not reflect recent changes .
A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, [a] a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it ...
This is becoming more popular as buildings owners are renting or leasing floors or sections of the buildings to companies which have different spacial requirements than the previous users causing needed renovation. Renovations can also occur as companies increase size which could lead to needed additional retail, office, or other types of spaces.