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The Ultimate Construction Glossary for 2024: Essential Terms and Definitions

Building Radar

As-built drawings are indispensable for facility management, maintenance, and any subsequent renovations. What is a ‘Mechanic’s Lien’? A mechanic’s lien is a legal claim that contractors, subcontractors, or suppliers can place on a property if they are not paid for their work or materials.

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Does GC Insurance Cover Subcontractors?

Levelset

Builder’s risk insurance protects the building while it’s under construction or renovation, allowing the policyholder to recoup losses caused by accidents, fires, weather, vandalism, theft, or other risks named in the policy. In some cases, a wrap policy may even include worker’s compensation coverage.

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State by State Incentives Guide

Buisness Facilities Contributed Content

Prevailing wage must be paid to workers involved in the construction or renovation. Participating companies are compensated by being able to reduce their federal income tax liability with a tax credit between $1,200 and $9,000 per qualified employee, depending on the target group. See www.doleta.gov/business/incentives/opptax/.

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STATE INCENTIVES GUIDE

Buisness Facilities Contributed Content

The private sector participant finances 50 percent of the project cost and takes a first lien on assets pledged as collateral. The SBA takes a second lien on assets and finances up to 40 percent of the project cost, up to $1 million in some cases. Borrowers inject 10 percent in the form of cash or equity in real estate.

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A Primer on MasterFormat & Improving Construction Project Collaboration

Building Information Management

Standardizing the presentation of renovation, repair, maintenance, and new construction tasks and costs improves communication and collaboration among all parties, as well as helps to assure financial transparency/. 00 45 26 Workers Compensation Certificate Schedule. 00 61 16 Lien Bond Form. Affidavit of Release of Liens Form.

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A Primer on MasterFormat & Improving Construction Project Collaboration

Building Information Management

Standardizing the presentation of renovation, repair, maintenance, and new construction tasks and costs improves communication and collaboration among all parties, as well as helps to assure financial transparency. . 00 45 26 Workers Compensation Certificate Schedule. 00 61 16 Lien Bond Form. Affidavit of Release of Liens Form.

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Job Order Contracting – Best Practices Implementation

Building Information Management

Job order contracts, provides a flexible and responsive contractual capability in supporting its real property maintenance and renovation mission. The Owner will be required to deliver such materials to the job site or compensate the Contractor for providing labor to deliver Owner-furnished materials to the job. Subcontract bid.