A subcontractor agreement is a legal document that defines subcontractor responsibilities clearly. It sets forth things like timelines, terms of payment, licensing, insurance coverage, and how disputes are to be handled. The hiring contractor draws up the contract documents, but it’s important for ...
requiring payment for those materials before the subcontract fees payment deadline for the goods has elapsed. Example: A metal manufacturer requires a parts manufacturer (i.e., the subcontractor) to purchase six months' worth of materials from them, before paying the subcontractor for the products...
requiring payment for those materials before the subcontract fees payment deadline for the goods has elapsed. Example: A metal manufacturer requires a parts manufacturer (i.e., the subcontractor) to purchase six months' worth of materials from them, before paying the subcontractor for the products...
What defines a general contractor?Imagine a symphony without a conductor, a ship without a captain—that’s a construction project without a general contractor (GC). These professionals are the masterminds, weaving together the countless moving parts of a construction site. While electrical ...
The Project Management Institute (PMI) Project Management Book of Knowledge (PMBOK) defines the Work Breakdown Structure as a “deliverable oriented hierarchical decomposition of the work to be executed by the project team.” There are two types of WBS: 1)Deliverable-Basedand 2)Phase-Based. The...
This arrangement involves a contract between a contractor and a subcontractor to perform a portion of work that is part of a larger project. All contracts are dealt under offshore law because the agreement is between two offshore entities. Procurement teams can reduce the burden of dealing with...
What is a prime contractor? A prime contractor could be used as a synonym for “general contractor.” Virginia law, for example,defines a prime contractoras “a licensed contractor that performs, supervises, or manages the construction, removal, repair, or improvement of real property pursuant ...
The Project Management Institute (PMI) Project Management Book of Knowledge (PMBOK) defines the Work Breakdown Structure as a “deliverable oriented hierarchical decomposition of the work to be executed by the project team.” There are two types of WBS: 1)Deliverable-Basedand 2)Phase-Based. The...
The Project Management Institute (PMI) Project Management Book of Knowledge (PMBOK) defines the Work Breakdown Structure as a “deliverable oriented hierarchical decomposition of the work to be executed by the project team.” There are two types of WBS: 1)Deliverable-Basedand 2)Phase-Based. The...
The German Institute for Compliance (DICO) defines abusiness partneras “any party which has business contact with a company and is not an employee or manager of the company”. Regardless of the extent or type of the business relationship, this includes customers, suppliers, subcontractors, sales...