Assignment 14 – Construction Contract Basics

After reading the assignment and reviewing any provided supplemental material, answer the following questions:

1.    Why do you think construction contracts are normally accomplished by sealed bid procedures?
2.    What are Architect-Engineer services?
3.    How are construction contracts usually priced?  Do you think this is appropriate?
4.    What is a site visit?
5.    Why is a site visit important to both parties?
6.    What is the Miller Act?  Discuss its requirements.
7.    What is a Performance Bond?
8.    What is a Payment Bond?
9.    What are some of the key differences between supply contracts and construction contracts?
10.    Overall, why are construction contracts more difficult to administer?

Please Right each question when answering.

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