A glossary of terms with reference to Construction Cost Estimating
Construction Cost Estimating
JULY 1, 2014
Bond - in construction, a performance bond is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. Labor burden is the cost of payroll taxes and insurances (such as Workers'' compensation) which the employer must pay to employ workers. Example: Wage rate is 10.00/hour,
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