Search online for a copy of sample contract agreement document and answer the following questions (you have to attach th

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answerhappygod
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Search online for a copy of sample contract agreement document and answer the following questions (you have to attach th

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Search online for a copy of sample contract agreement documentand answer the following questions (you have to attach the copy ofsample contract with your work):
a. What type of agreement (lump-sum, unit-price, or costplus-fee) is used for the project? If it is a cost- plus-feeagreement, how is the fee determined, and is there a guaranteedmaximum price?
b. What provisions are included in the contract documentsregarding the time of completion? What penalties are there forfailing to meet the completion date? Is there a bonus forcompleting the project ahead of schedule?
c. How are progress payments handled? When are they due? Howquickly will they be paid?
d. Will retention be withheld? What are the requirements for therelease of retention?
e. How is final acceptance handled? What inspections arerequired? What forms, documents, maintenance and operation manuals,certifications, red-line drawings, and so on need to be submittedbefore final acceptance?
f. What bonds and insurances are needed for the job?
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