Question

In: Civil Engineering

Apple LLC decides that it is going to bid on some government work. All contractors must...

Apple LLC decides that it is going to bid on some government work. All contractors must post a bid bond when bidding on government work. Apple bids on the government work and wins. Apple posts a payment bond, as per the contract, and starts to work. After about 2 years into the job, Apple walks off the job, which was left uncompleted. Can the government collect the bond?

1. Yes, the government can collect on the bid bond that Apple took out

2. No, there is no bond available here that the government could collect on

3. No, the surety must be given the chance to mitigate their losses first

4. Yes, Apple guaranteed its work.

Solutions

Expert Solution

Ally Wells answered 1 year ago
Next > < Previous

Related Solutions

The department of code enforcement of a county government issues permits to general contractors to work...
The department of code enforcement of a county government issues permits to general contractors to work on residential projects. For each permit issued, the department inspects the result of the project and gives a “pass” or “fail” rating. A failed project must be re-inspected until it receives a pass rating. The department had been frustrated by the high cost of re-inspection and decided to publish the inspection records of all contractors on the web. It was hoped that public access...
1.Suppose that in the next federal budget, the government decides to eliminate all (government) purchases that...
1.Suppose that in the next federal budget, the government decides to eliminate all (government) purchases that are financed by borrowing because the politicians worry about a budget deficit. What is wrong with this argument? Briefly discuss using the loanable fund market.
Why do you think some business owners classify people that work with them as contractors when...
Why do you think some business owners classify people that work with them as contractors when they should actually be classified as employees? What is the difference and why does the government care?
Show all work in the space provided. All work must be shown to obtain full credit....
Show all work in the space provided. All work must be shown to obtain full credit. If a calculator function was used, list exactly what was entered into the calculator. All z-score calculations must be shown. 1. According to one study, the average hours of sleep on a weeknight for men was 6.9 hours with a standard deviation of 1.5 hours. a. Find the proportion of men who sleep for more than 8 hours per night. b. Find the proportion...
PLEASE SHOW WORK FOR ALL, IF YOU'RE ONLY GOING TO DO ONE OF THESE AND NOT...
PLEASE SHOW WORK FOR ALL, IF YOU'RE ONLY GOING TO DO ONE OF THESE AND NOT ALL, DONT ANSWER 12. P. Rose, Inc. is considering a new four-year expansion project that requires an initial fixed asset investment of $1,950,000. The asset will be depreciated straight-line to zero over its six-year tax life, after which time it will be worthless. The project is estimated to generate $2,145,000 in annual sales, with costs of $1,205,000. The fixed asset will have a market...
PLEASE SHOW WORK FOR ALL, IF YOU'RE ONLY GOING TO DO ONE OF THESE AND NOT...
PLEASE SHOW WORK FOR ALL, IF YOU'RE ONLY GOING TO DO ONE OF THESE AND NOT ALL, DONT ANSWER 1. Assume that the risk-free rate is 5 percent and that the market risk premium is 7 percent. If a stock has a required rate of return of 13.75 percent, what must its beta be? a. 1.25 b. 1.35 c. 1.37 d. 1.60 e. 1.96 2. Your family recently obtained a 30-year $100,000 fixed-rate mortgage. Which of the following statements is...
The business you work for is considering going to all cash transactions because the owner feels...
The business you work for is considering going to all cash transactions because the owner feels they are paying too high of a percentage to the credit card companies. Also, the funds do not appear in their operating account until 3 days later. Discuss with the owner the pros and cons of this decision and what would you recommend they do?
Show all work please Calculate the price and duration for the following bond when the going...
Show all work please Calculate the price and duration for the following bond when the going rate of interest is 4%. The bond offers 3.5% coupon rate, matures in 3 years and has a par value of $1,000. Show full calculations and fill the table below. YR PV of $ 1 Bond Cash Flows PV (Cash Flows) Year * Present Value of Cash Flow 1 2 3 3 Total Price = Duration    What would be the new price if...
SHOW ALL WORK I am going to install a slot in the VIP lounge of my...
SHOW ALL WORK I am going to install a slot in the VIP lounge of my casino. A coin is inserted and a button is pressed. The screen reveals 3 colored circles (on the left, middle, and right side respectively). Each of the colored circles will be purple, red, blue, black, white independently with P[purple]=P[red]=P[white]=P[blue] = 0.5P[Black]. The payoff is as follows: circles reward (coins) 3 white 5000 3 blue 1000 3 purple 100 3 red 6 2 red/1 non-red...
You must show your work on all mathematical questions and I must be able to follow...
You must show your work on all mathematical questions and I must be able to follow your steps. The institutional research office has recently conducted a survey group of consumers. According to demographic data, the research office has given you the following:                         Typical weekly consumer income                    $500                         Price of Frosty Cola                                        $2.50 per case                         Price of Coca-Cola                                         $5.00 per case You want to break this data down for the chief financial officer in two forms:...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT