construction contract


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, sometimes all the work required to be performed by subcontractors, and public regulation of the contracting business, which, of course, by imposing licensing requirements determines who are competent to contract as builders.

Ballentine's law dictionary. . 1998.

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 — 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

  • 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