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Terms in this set (6)
A debt security issued by a state, municipality or country to finance its capital expenditures. Municipal bonds are exempt from federal taxes and from most state and local taxes, especially if you live in the state in which the bond is issued.
Design/Build - Bid
A method of construction in which the contractor provides both design and construction services to an owner.
A form of security executed by the bidder or principal in conjunction with a surety to guarantee that the bidder will enter into a contract within a specified period of time and will furnish the required bonds for performance and labor and materials payment.
A contract where a contractor is paid for all of its allowed expenses to a set limit plus additional payment to allow for a profit. A contract that contrast with fixed-price contract.
A form of security purchased by the contractor from a surety, which is provided to guarantee that the contractor will pay all costs of labor, materials, and other services related to the project for which he is responsible under the contract for construction.
Lump Sum Bid
Single bid that covers
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