| Role of a Construction Manager |
| A construction manager (CM) plays a pivotal role on a construction project by coordinating and supervising the construction process from the initial development to final construction. The CM manages people, materials, and equipment in the execution of the project plans and is responsible for keeping the project on budget. Additionally, he keeps all schedules and contracts and works to ensure the safety of the public and the employees on the job site. More... |
| WHAT IS A SURETY BOND? |
| A surety bond is a document that guarantees the obligations under a construction contract. The surety bond is similar to an insurance policy in that it protects the parties who are involved in the construction contract. Surety bonds are issued by a surety company.More... |
| Duty of Prompt Payment |
| On construction projects, payment originates from the owner with each successive party below him obligated to pay the next party in line. With respect to public contracts, and even some private contracts, the duty of prompt payment has been statutorily declared.More... |
| Waiver of Written Authorization for Extra Work |
| Generally, extra work on a construction contract, i.e. work not covered in the scope of work contained in the contract between the owner and contractor, requires written authorization by the owner. Without such authorization, a contractor runs the risk of not being paid for the extra work performed. However, an owner can waive the written authorization requirement.More... |
| Negotiation of Private Construction Contract |
| The competitive bidding process is not the only means by which construction contracts can be entered into. Sometimes, it is not a matter of choosing which contractor will perform the construction, but rather merely the particulars surrounding a project that will be performed by an already designated contractor. The negotiation of a private construction contract encompasses everything from what work will be performed at what price to when the construction will begin and end.More... |
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