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use the term errors and omissions (E&O) insurance Other professions that commonly purchase professional liability insurance include accounting, engineering, land surveying and financial services, construction and maintenance (general contractors, plumbers, etc., many of whom are also surety bonded), and transport.
Multiple Advance, Closed End: This type of loan (typically a construction loan) advances incremental amounts up to a certain limit, based upon some criteria such as inspection and approval of a draw request. Any principal reductions received during the loan period are not available to be drawn on, but rather have paid down the loan balance.
The difference between this type of contract which is a cost-based contract with lump-sum contract is that in guaranteed maximum price (GMP), if there is any savings resulted from cost under runs, then that would be stipulated price contract, and the contractors will keep the savings obtained from the cost under runs for themselves and there is ...
A loan agreement is made between the project company (borrower) and the lenders. Loan agreement governs relationship between the lenders and the borrowers. It determines the basis on which the loan can be drawn and repaid, and contains the usual provisions found in a corporate loan agreement.
While interest rates are typically higher than home equity loans — currently averaging 12.33% APR for a 24-month loan but ranging from 6.94% to 35.99% — the approval process is usually faster ...
The EPC contractor coordinates all design, procurement and construction work and ensures that the whole project is completed as required and in time. They may or may not undertake actual site work. EPC companies are often used in large-scale projects, such as power plants, refineries, chemical processing facilities, infrastructure projects, and ...
For 30 years, Rose Bowl co-host Leeza Gibbons, 67, had a near-constant presence on network television.. From 1984 to 2000, she was a correspondent and co-host of Entertainment Tonight, and the ...
Average mortgage rates edge higher for 30-year and 15-year terms as of Wednesday, December 18, 2024, as the Federal Reserve is set to conclude its final policy session of the year.