JAPN 3801 : Exam 3 Study Guide
Document Summary
For bonds to become effective must have a signed contract. Supplier to the suppliers are never covered under insurance. Never ever design something for a designer, only offer suggestions unless you have designer insurance. Miller act 90 days to a claim nonpayment and to sue to make a claim. Equipment lessor must give copy of contract to prime & owner. Owner has rights to property as does lessee, 45 days after notice of acceptance may sure for payment. Notice of termination: 60 days to file claim . First 6 to get paid: property taxes, laborers, security interests, materials, prime contractors, other securities not reported prior to construction. Employer pays as part of payroll taxes to cover it. Ch 9: the central office is an indispensable part of the construction company, three reasons proper record should be kept is for law, accounting, and estimating purposes, cash method: income only counts after received vs.
