We did some construction work (lost money). The public agency required a performance bond on our original bid which we obtained. We eventually had a change order for about 2/3s of the original cost that they didn't require a bond on (though our contract with the bonding agency mentions that we were supposed to tell them about change orders at the time which we didn't). Project is over. Bonding agency wants another $1700 to cover the change order. I see nothing in our contract with the bonding company or public agency that requires us to pay that.
But if that's the common practice, we'll pay it. We just don't know enough about construction (never doing that again) to know if that's the common practice.
Red Flag Submitted
Thank you for helping keep Eng-Tips Forums free from inappropriate posts. The Eng-Tips staff will check this out and take appropriate action.
Reply To This Thread
Posting in the Eng-Tips forums is a member-only feature.
A contactor is an electrical device used for switching an electrical circuit on or off. Considered to be a special type of relay, contactors are used in applications with higher current carrying capacity, while relays are used for lower current applications. Download Now
This research report, based on a survey of 234 product development professionals, examines the current state of Internet of Things (IoT) adoption by product design teams, its perceived importance, and what features and capabilities teams consider important when making decision about adding IoT functionality to their products. Download Now
The term Industry 4.0 denotes a cluster of technologies thatâ€™s poised to
fundamentally reshape manufacturing and bring about a new industrial
revolution. These include 3D printing
(AM), the Industrial Internet of Things (IIoT), artificial intelligence (AI) and
mixed reality technologies, more commonly known as virtual reality (VR) and
augmented reality (AR). Download Now