construction contract


construction contract
Type of contract in which plans and specifications for construction are made a part of the contract itself and commonly it is secured by performance and payment bonds to protect both subcontractors and party for whom building is being constructed

Black's law dictionary. . 1990.

Look at other dictionaries:

  • construction contract — Type of contract in which plans and specifications for construction are made a part of the contract itself and commonly it is secured by performance and payment bonds to protect both subcontractors and party for whom building is being constructed …   Black's law dictionary

  • construction contract — A contract for the construction of a building or other structure, the distinguishing characteristics of which are the plans and specifications, according to which the work is to be performed by the builder or contractor; the performance of a part …   Ballentine's law dictionary

  • NEC Engineering and Construction Contract — The New Engineering Contract (NEC), or NEC Engineering and Construction Contract is a formalized system created by the Institution of Civil Engineers that guides the drafting of documents on civil engineering and construction projects for the… …   Wikipedia

  • Turnkey construction contract — A type of construction contract under which the construction firm is obligated to complete a project according to prespecified criteria for a price that is fixed at the time the contract is signed. The New York Times Financial Glossary …   Financial and business terms

  • turnkey construction contract — A type of construction contract under which the construction firm is obligated to complete a project according to prespecified criteria for a price that is fixed at the time the contract is signed. Bloomberg Financial Dictionary …   Financial and business terms

  • Construction bidding — is the process of submitting a proposal (tender) to undertake, or manage the undertaking of a construction project. The process starts with a construction estimate from blueprints and take offs. The tender is treated as an offer to do the work… …   Wikipedia

  • Construction estimating software — is computer software designed for contractors to estimate construction costs for a specific project. An estimator will typically use estimating software to estimate their bid price for a project, which will ultimately become part of a resulting… …   Wikipedia

  • Construction buyer — Construction buyers are the regulators for the materials required for a construction project, in which they purchase the products in accordance with the established budgets. Buyers are crucial in ensuring that the construction contract maintains… …   Wikipedia

  • contract — {{Roman}}I.{{/Roman}} noun 1 written agreement ADJECTIVE ▪ long term, permanent ▪ guaranteed (esp. AmE) ▪ casual (BrE), fixed term (BrE), short term …   Collocations dictionary

  • contract price — Literally, the amount to be paid under a contract of sale, a contract to render services, or a construction contract. In a contract for the construction of a building, the words contract price were held to mean not the abstract price or amount… …   Ballentine's law dictionary