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Engineering, procurement, and construction (EPC) contracts (a type of turnkey contract) are a form of contract used to undertake construction works by the private sector on large-scale and complex infrastructure projects. [1] They may follow a Front-End Engineering and Design (FEED) contract.
A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors .
The latest officially released version of MasterFormat is the 2018 Edition, which uses the following Divisions: PROCUREMENT AND CONTRACTING REQUIREMENTS GROUP:
MDT – modular formation dynamic tester, a tool used to get formation pressure in the hole (not borehole pressure which the PWD does). MDT could be run on Wireline or on the Drill Pipe; MDR – mud damage removal (acid bullheading) MEA – monoethanolamine; MEG – monoethylene glycol; MEIC – Mechanical Electrical Instrumentation Commission
A Allocation of costs is the transfer of costs from one cost item to one or more other cost items. Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. As-sold estimate - the estimate which matches the agreed items and price for the project scope. B Basis of estimate (BOE) - a document which describes the scope basis, pricing basis, methods ...
A form of contract for the supply of goods; Forms of bond (including performance bonds) and collateral warranties. The Construction Industry Model Arbitration Rules, adapted from those of the Society of Construction Arbitrators. The JCT publishes guidance on which contract to select.
The Boston Harbor reclamation project that began in the 1980s became the focus of debate over the legality of PLAs. [12] [13] When the Massachusetts Water Resources Authority elected to use a PLA for the project that mandated union-only labor, [14] the Associated Builders and Contractors of Massachusetts/Rhode Island, Inc. challenged its legality, asserting that the use of a PLA was prohibited ...
OSHA formally recognized NCCER Crane Operator Certification Program on May 20, 2010. A ceremony was held in Washington, D.C., that included the North American Crane Bureau, the US Assistant Secretary of Labor for OSHA, the Acting Director for OSHA’s Directorate of Construction, the President/CEO, Associated Builders and Contractors, Inc., the President/CEO, Associated General Contractors of ...