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10 Cards in this Set

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  • Back

Acceleration Cost

Cost incurred by a contractor when he must employ more manpower/hours (at the owners request or need) in order to finish the project ahead of schedule. (may not be granted if the contractor contributes to cause of delays)

Acceptance

Act of a person who receives something with the intention of retaining it, such intention being evidenced by a sufficient act (such as an owner selecting a bid) - (See CONTRACT)

Active Interference

Action by one party to a contract that causes the other party to not complete the contracted work on time or as established by the contract writing. Positive action must be performed by the interfering party as opposed to passive negligence.

Actual Damages (Actual Loss)

The real and true value of the total loss suffered (as opposed to liquidated damages which are estimated as anticipated loss in the future)


Addenda

Formal changes or clarifications to the contract documents issued during the bid period. They become official parts of the CD's and are legally binding.

Acts of God

Events causing a project delay that are not caused by the owner or contractor. These delays result in adjustments to the contract duration but not the contract amount.

Additional Work

Construction work that was not recognized at the contract award but that must be performed in order to deliver a project as planned.

Adverse weather

Unexpected weather conditions for a particular location at a particular time of year that impede construction progress.

Advertisement

A public announcement to solicit bids for a construction project.

Agency Agreement

An arrangement between a principal and an agent by which the agent agrees to perform certain tasks for the principal. The principal is bound by the actions of the agent.