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    Bonds are guarantees that ensure a contractor fulfills their obligations on a construction project. There are three main types of bonds: proposal bonds guarantee a contractor will enter a contract if awarded; performance bonds guarantee a contractor will complete work as outlined in the contract; and payment bonds guarantee a contractor will pay all obligations arising from the contract such as paying subcontractors and suppliers. The general conditions of a construction contract outline sections related to bidding, definitions, site conditions, equipment, premises, protection of work, labor, suspension of work, responsibilities, and authority of representatives.

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    handout for proffessional practice review

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    Bonds are guarantees that ensure a contractor fulfills their obligations on a construction project. There are three main types of bonds: proposal bonds guarantee a contractor will enter a contract if awarded; performance bonds guarantee a contractor will complete work as outlined in the contract; and payment bonds guarantee a contractor will pay all obligations arising from the contract such as paying subcontractors and suppliers. The general conditions of a construction contract outline sections related to bidding, definitions, site conditions, equipment, premises, protection of work, labor, suspension of work, responsibilities, and authority of representatives.

    Copyright:

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    Download as PPT, PDF, TXT or read online from Scribd
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    7 views3 pages

    Gen Cond Handouts

    Uploaded by

    joshceline
    Bonds are guarantees that ensure a contractor fulfills their obligations on a construction project. There are three main types of bonds: proposal bonds guarantee a contractor will enter a contract if awarded; performance bonds guarantee a contractor will complete work as outlined in the contract; and payment bonds guarantee a contractor will pay all obligations arising from the contract such as paying subcontractors and suppliers. The general conditions of a construction contract outline sections related to bidding, definitions, site conditions, equipment, premises, protection of work, labor, suspension of work, responsibilities, and authority of representatives.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as ppt, pdf, or txt
    of 3

    bonds

    bonds surety : anything that binds, fastens, unites : the person, firm or corporation that provides the guarantee for the contractors bonds

    proposal bond

    : guarantee to enter into a contract if awarded

    performance bond : guarantee to execute the work in accordance with the terms of the contract payment bond guarantee bond : guarantee to pay all obligations arising from the contract : guarantee workmanship and quality of materials and equipment

    GENERAL CONDITIONS

    bidding proposal tender documents invitation to bid bid bulletin

    instruction to bidders

    GENERAL CONDITIONS

    Sec I Sec II

    Definitions and Documents Laws, Regulations, Site Conditions, Permits and Taxes

    Sec III
    Sec IV Sec V Sec VI

    Equipment and Materials


    Premises and Temporary Structures Protection of Work and Property Labor, Work and Payments

    Sec VII Contractor- Separate Contractors Sub-contractor Relations Sec VIII Suspension of Work and Termination of Contract Sec IX Responsibilities and Liabilities of Contractor and of Owner

    Sec x

    Authority of Architect, Engineers and Project Representatives

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