Mzrow Exam 2

Front 1

Product Data

Back 1

Information furnished by the manufacturer to illustrate a material, product, or system for some portion of the work which includes illustrations, standard schedules, performance charts, instruction, brochures, diagrams, and warranties

Front 2

Shop Drawings

Back 2

Drawings created by a contractor, subcontractor, vendor, manufacturer, or other entity that illustrate construction, materials, dimensions, installation, and other pertinent information for the incorporation of an element or item into the construction

Front 3

professional liability insurance

Back 3

insurance coverage protecting against legal liability for damage claims sustained by others. Damage claims allege negligentacts, errors, or omissions in the performance of professional services. (see also negligence)

Front 4

umbrella liability insurance

Back 4

insurance that provides direct coverage for losses that are not covered by other policies

Front 5

builder's risk insurance

Back 5

a specialized form of property insurance that provides coverage for loss or damage to the work during the course of construction

Front 6

completed operations insurance

Back 6

Liability insurance coverage for injuries to persons or damage to property occurring with all operations under the contract have been completed or abandoned

Front 7

personal injury insurance

Back 7

body injury, and also injury or damage to the character or reputation of a person. Personal injury insurance includes coveage for injuries or damages to others caused by specified actions of the insured, such as false arrest, malicious prosecution, wilful detention or imprisonment, libel, slander, defamation of character, wrongful eviction, invasion of privacy, or wrongful entry.

Front 8

general liability insurance

Back 8

insurance that protects a project and any adjacent properties from damage or loss as a result of an accident during the construction process

Front 9

hold harmless

Back 9

A clause of idemnification by which an insurance carrier agrees to assume his client's contractual obligation and to assume responsibility in certain situation which otherwise might be obligation of the other party to the contract

Front 10

occurence

Back 10

an "accident" including continuous or repeated "exposure to substantially the same general harmful conditions. Must have an "occurence" to trigger coverage

Front 11

occurence vs. Claims made policy

Back 11

occurence is coverage for a claim is provided by a policy in force at time of loss regardless when claim is made and claims made is coverage provided when the claim is made

Front 12

contractual liability insurance

Back 12

insurance coverage for liability of the insured assumed in a contract. Limited to liability assumed in a specifically defined contract or liability that insured would have had in the absence of a contract

Front 13

contractual liability

Back 13

liability imposed on an entity by the terms of a contrac t

Front 14

tort liability

Back 14

a civil or private wrong giving rise to legal liability

Front 15

workers comp insurance

Back 15

injured employee on the job, medical coverage and lost wages

Front 16

automobile liability insurance

Back 16

coverage for owned hired and non owned automobiles

Front 17

certificate of insurance

Back 17

a document prepared by an insurance company or its agent that states the period of time for which the policy is in effect, along with the types of amounts of coverage for the insured

Front 18

idemnification

Back 18

contractually assigning risj to a party that is most likely responsible for the claim

common and prevalent because there is large risk in the construction process

transfers financial consequences not liability

Front 19

exculpatory

Back 19

a contract provision that relieves one party of all liability and assigns it (liability) to the other in connection with the performance

Front 20

Broad Idemnification

Back 20

unlimited obligation to hold another party harmless from all claims arising out of the work, including partial and sole negligence of the idemnified party

Front 21

who am I idemnifying

Back 21

the owner, architect, etc.

Front 22

advertisement for bidders

Back 22

published notice of an owners intention to award a contract for construction to a constructor who submits a proposal according to instructions to bidders

Front 23

instruction to bidders

Back 23

a document included as part of the bidding requirements that set forth specific instruction to candidate constructors on procedures, expectations and disclaimers of the owner, and other necessary information for the preparation of proposals for consideration by the owner for a competitive bid

Front 24

bid bond

Back 24

a form of security executed by the bidder or principal in conjunction with a surety to guarantee that the bidder will enter into a contract within a specified period of time and will furnish the required bonds for performance and labor and materials payment

Front 25

bid security

Back 25

a bid bond or deposit submitted with a bid to guarantee to the owner that the bidder if awarded the contract will execute the contract within a specified period of time and will furnish any bonds or other requirements of the bid documents

Front 26

performance bond

Back 26

guarantee that a contractor will perform a job according to the terms of the contract or the bond will be forfeited

Front 27

payment bonds

Back 27

a form of security purchased by the contractor from a surety, which is provided to guarantee that the contractor will pay all costs of labor, materials, and other services related to the project for which he is responsible under the contract for construction

Front 28

proposal form

Back 28

a form, furnished to the bidder, on which to submit his bid

Front 29

addendum

Back 29

a document describing an addition change or mod to the construction documents

Front 30

bid shopping

Back 30

sharing contractor pricing information among potential bid or proposal respondants prior to award. The practice is considered unethical and sometimes illegal

Front 31

offer

Back 31

a proposal, as in a wage and benefits package, to be accepted, negotiated, or rejected

Front 32

quote

Back 32

to make an offer at a guaranteed price

Front 33

contract price

Back 33

the monies payable by the owner to the contractor under the contract documents as stated in the agreement

Front 34

indemnification

Back 34

an obligation contractually assumed or legally imposed on one party to protect another against loss or damage from stated liabilities

Front 35

k

Back 35

k