Scope of service as defined in the original agreement between owner and ZSCC as basic services.
The use of the constructed facility by the owner prior to final completion of the construction.
An offer to perform the work described in contract documents at a specified cost.
A pledge from a surety to pay the bond amount to the owner in the event the Bidder defaults on its commitment to enter into a contract to perform the Work described in the Bid Documents for the bid price.
The documents issued to the contractor(s) by the owner which describe the proposed Work and contract terms. Bid documents typically include: drawings, specifications, contract forms, general and supplementary general conditions, proposal or bid forms, and other information.
The degree to which a set of Bid Documents could be reasonably expected to permit a bidder to establish a competitive price to perform the Work as defined in the Bid Documents.
A formal review of the contract documents, addendum, and reference documents to be accomplished with respect to the local construction marketplace and the bid packaging strategy so as to eliminate ambiguities, errors, omissions, and contradictions, for the purpose of minimizing bid prices in the procurement phase and disputes during construction.
A pledge from a surety guaranteeing the performance of the obligation defined in the bond, including the completion of work or payment of the bond amount to the obligee (owner or contractor) in the event of a default, or non-payment by a principal (contractor or subcontractor), as with bid, performance and labor and material bonds.
Additional compensation paid or to be paid to a contractor by the owner as a reward for accomplishing predetermined objectives that are over and above the basic requirements of the contract between the owner and contractor.
The SAR or equivalent in other currency amount allocated by the owner for a project.