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Punch list. A punch list is a document prepared during key milestones or near the end of a construction project listing works that do not conform to contract drawings and specifications that the general contractor must correct prior to final payment. [1] The work may include incomplete or incorrect installations or incidental damage to existing ...
16 Divisions. The 16 Divisions of construction, as defined by the Construction Specifications Institute (CSI)'s MasterFormat, is the most widely used standard for organizing specifications and other written information for commercial and institutional building projects in the U.S. and Canada.
Submittals (construction) Submittals in construction management can include: shop drawings, material data, samples, and product data. Submittals are required primarily for the architect and engineer to verify that the correct products will be installed on the project. [1]
Many employers try to save money on taxes and escape liability under employment laws by getting employees to sign Independent Contractor Agreements.
A term sheet is a bullet-point document outlining the material terms and conditions of a potential business agreement, establishing the basis for future negotiations between a seller and buyer. It is usually the first documented evidence of a possible acquisition . [1]
In the United States, any company or organization engaged in a trade or business that pays more than $600 to an independent contractor in one year is required to report this to the Internal Revenue Service (IRS) as well as to the contractor, using Form 1099-NEC.