2 - TheContractSystem SingleContract:Ageneralcontractor

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The Contract System Single Contract: A general contractor  (GC) is responsible for all of the work  required for the completion of a project. Separate Contract: The owner signs  separate agreements for the  construction of various portions of a  project.   1
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Types of Agreements 1.    Lump-Sum  (fixed  price):  The  contractor reviews the contract documents and specifies a  fixed  price  (direct  costs,  indirect  costs, overhead, and profit) to finish the project. 4
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Lump-Sum The amount of contract will vary from the bid amount  as a result of changes to the project from that  described in the contract documents. For  publicly  funded  projects  an  open  advertisement  for bids is required and the lowest responsive bidder  will be awarded the project. The plans and specifications for a lump-sum bid  project must be complete. 5
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Unit-Price Agreement The  contractor  bases  the  bid  on  estimated  quantities of work (the quantity takeoff is made  by the owner) and on completion of the work in  accordance with the contract documents. All bidders will base their bids on the quantities  listed and will bid on a unit price basis. The plans and spec. of the parts to bid as lump- sum should be complete. Others need to be in  such detail to determine the unit cost. 6
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Cost-Plus-Fee Agreements It  is  often  used  when  speed (construction must begin before the drawings  and  spec.  are  completed) and  high  quality  have  a  higher priority than the desire for the lowest possible price.    9
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Cost-Plus-Fee Types of fee arrangements:   Percentage Fee  Fixed Fee  Fixed Fee with Guaranteed Cost  Sliding Scale Fee  Fixed Fee with a Bonus and Penalty 10
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BONDS Bonds are written documents that describe  the  conditions  and
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This note was uploaded on 08/29/2011 for the course BCN 6518 taught by Professor Chini during the Spring '11 term at University of Florida.

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2 - TheContractSystem SingleContract:Ageneralcontractor

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