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In: Civil Engineering

In a CM at Risk (CM/GC) project, is there privity of contract between the general contractor...

In a CM at Risk (CM/GC) project, is there privity of contract between the general contractor and the architect? Explain.

On a construction project, who ultimately pays for bonds and insurance?

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Expert Solution

Yes there is privity of contract between the general contractor and the architect. As the architect is ultimate document preprator of the whole process of the work and the contractor need to have bond with insurance from the insurance company or bank so that it guarantee that the work would complete with abudent finance. This bond is important which need to be paid by contractor if it fails to achieve its target. The earnest money deposite is done by the contractor at the time of tender filing which makes the contractor firm to send the bank guareenty to the client or archiect for the work order to proceed.

Ally Wells answered 2 years ago
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