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Flashcards in A201 Deck (117)
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91

C will add O / A / A's consultants to

Commercial Liability Coverage (so save $ for all parties, by condensing legal fees to one policy)

92

O needs this insurance

- Owners Usual Liability Insurance
- Boiler & Machinery Insurance
- Loss of Use Insurance

93

Property Insurance held by

- O
- whole cost, no deductibles
- until final payment
- "all risk" vs "named risk" ex. property floor insurance
- covers parts of work off site

94

Subrogation

the assumption by a third party of another's legal right to collect a debt

95

Indemnification

to protect someone by promising to pay for the cost of future damages

96

Performance Bond

guarantees satisfactory completion of a project

97

Payment Bond

guarantees subs and material suppliers will be paid

98

Uncovering of Work

- A writes list of req'd inspections
- C covers up after written
- C must uncover @ C's cost
- O pays cost, not A, if a later request

99

correction of work after substantial completion

- 1 yr after substantial completion
- C must fix works to meet contract docs
- after yr anyone can do work, and O can pursue C for $
- work begun after substantial completion will have 1 year from that date, extending for those items only.

100

Accepting non-conforming work

only the O can, b/c it reflects a change in the contract

101

Performance tests

C cannot conduct own tests, and often not hire tester

102

Interest rate specification

O / C forms have a place where interest rates can be agreed on

103

Limit on claims

not more than 10 yrs after substantial completion

104

C may terminate contract if work is stopped

- 30 consecutive days, by no fault of it's own
- wait an additional 30 days if b/c non payment
- C must give 7 days written notice to O/A

105

O may terminate C if

- repeatedly not enough skilled workers @ site
- no payment to subs
- repeatedly breaks laws / code
- substantially breaches contract

106

Steps for O to terminate C

goes to IDM, + 7 days written notice
after any rights of C's surety, O may:
1. take possession of materials / equip/ tools of C
2. accept assignment of Subs
3. finish work reasonable expedient. O provides C with costs accounting.
4. C gets no $ until work is finished
(A then certifies cost and see's who owes who)

107

Suspension by the O for convenience

- O may w/o cause, in writing
- Contract Sum + Time will adjust and include profit

108

Termination by the Owner for Convenience, C must

- cease
- take action to protect and preserve work
- terminate subcontracts / orders
Note: C may be entitled to profit for work not performed.

109

Claims must be filed

in writing 21 days after occurrence/noticed

110

for a change order based on weather delay

conditions must be documented as unusual for time/location
ex. by NOAA National Oceanic + Atmospheric Assoc.

111

C + O waive consequential damages to

- only liable to direct damages
- may encourage settlement

112

IDM days to response to claim, and course of actions

10 days to respond to claim:
- seek more data
- reject in whole/ part
- approve
- suggest compromise
- decides it inappropriate for IDM to resolve

113

C / O has ___ days to provide response to IDM's decision

10 days, A then must accept or reject

114

Initial desicion is

final and binding, but subject to mediation

115

C or O, w/in ___ days of claim decision from IDM

30 days, must demand in writing for
mediation set within
60 days of initial decision

116

Mediation

assisted negotiation

117

fees + location for mediation

- shared equally between C / O
- located where project is taking place