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Florida General Contractor's study guide Questions solved
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Florida General Contractor's study guide
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Florida General Contractor's study guideContractor's - answeris someone who demolishes subtracts from boots for improved
any building or structure or compensation. Compensation or cash goods services etc.
essentially if you pay someone to construct A building or a structure makes structural
alterations to load bearing walls or perform services such as plumbing or air
conditioning work that person Hass to have a state contractors license.
General contractor license - answerallows building construction that is unlimited as to
the type and size of the construction project.
Building contractor licensing - answerwhose services are limited to the construction of
commercial buildings and single-dwelling or multiple-dwelling residential buildings.
These buildings cannot exceed three stories in height.
Residential contractor licensing - answerwhose services are limited to construction,
remodeling, repair, or improvement of one-family, two-family, or three-family residences
which are not more than two stories.
Draw Schedule - answeris a financial tool used by contractors in identifying percentage
of completion points in the project for the bank to advance proceeds to the contractor. It
outlines the sum of all projects.
Schedule of Values - answeris a start-to-finish list of work items on a project (broken
down into their component parts and with corresponding values) that, in total, represent
the entire project from beginning to end and the entire contract price.
payment schedule - answeris a list of dates setting out when payments will be made by
one party to another under the terms of the contract between them.
front-loading - answerPractice in which the bulk of fees on, or payments from, a service
or job are charged up-front or during the beginning phase, whether or not earned.
Disbursing the funds - answerMost common approach for banks or clients to make
payments contingent to confirm that the job progress is being made.
Substantial completion - answerStage or designated portion of a construction project
that is sufficiently complete in accordance with a contract for the owner to occupy and/or
utilize it for its intended use, without undue interference.
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