Which of the following is not a FirstTier Bond a Labor and M

Which of the following is not a First-Tier Bond? a) Labor and Material Payment Bond b) Subcontract and Material Supplier Bonds c) Work Guarantee Bonds d) Bid Bonds 6) True & False Questions (I point each, 43 points total) Construction-related contracts involve Owners, Designers and Contractors. Construc Management Firms do not sign contracts as they always work directly for the Owner. The creation of Drawings and Specifications is a necessary part of the Design Process. normally furnishes professional services only. One of the major differences in Contract Services between A/E firms and Construction 9) As an administrative service and an agent of the Ownet, a Construction Management Service Managers during the Pre Design Phase is that only CMt\'s prepare conceptual cost estimates and schedules. 11) Cost Plus-Fixed Fee Contracts for A/E and CM Services evolved to minimize the potential 12)_ The Federal Government relies on the use of Standard AIA Documents for construction 13) - An Invitation to Bid is not included as partof the typical Contract Documents, but rather 14) Reports of investigation of physical conditions (of the project site) form a part of the for abuse for previous Cost-Plus-Percentage fee terms. projects. just an advertisement. Contract Documents. An old literal adage \"Do not sign a contract until you have read and understood every word still applies in contemporary construction practice (opinion). 16) Change clauses are contained in Construction Contracts 17)_ Differing Site Conditions and Delays and Suspension of Work Clauses are always incorporated into Construction Contracts 18)- Construction Contracts always begin as soon as the Contract is awarded. 19) Liquated Damages may be incurred when time provisions of the Contract are exceeded. Page 2

Solution

(6) Answer:- (b) subcontract and material supplier bonds

(7) Answer:- True

(8) Answer:- True

(9) False

(10) True

(11) False

(12) True

(13) True

(14) True

(15) True

(16) True

(17) True

(18) False

(19 ) True