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Riverstart IV Contract Quiz

  1.  
    What is the owner's right to accelerate work ?
    A. Owner directs Contractor in writing, and a plan will be supplied by Contractor. B. Owner may direct Contractor to conduct work verbally, and the Contractor will conduct the work right away.
  2.  
    What is granted in Remedies for Owners Failures if it is a proved Owner-Caused Delay?
  3.  
    Who is responsible for storage and security of equipment?
    A. Contractor B. Owner
  4.  
    Owner may issue 1 or more Limited Notice to Proceed authorizations or a Full Notice to Proceed. What limitations must be followed when LNTPs are issued ?
  5.  
    What tax does the Owner have to pay under the contract?
    A. Property taxes B. Material Taxes C. Equipment Taxes D. Service Taxes
  6.  
    What is the term of payment for Riverstart IV for the Owner?
    A. 30 Days B. 45 Days C. 60 Days D. 90 Days E. 180 Days
  7.  
    What calendar day does the Contractor conduct a walk with the owner to verify Contractor invoicing?
    A. 10th of every month B. 5th of every month C. 15th of every month D. 1st of every month
Answer Key
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Riverstart IV Contract Quiz (Answer Key)

  1.  
    What is the owner's right to accelerate work ?
    A. Owner directs Contractor in writing, and a plan will be supplied by Contractor. B. Owner may direct Contractor to conduct work verbally, and the Contractor will conduct the work right away.
  2.  
    What is granted in Remedies for Owners Failures if it is a proved Owner-Caused Delay?
    schedule extension or compensation
  3.  
    Who is responsible for storage and security of equipment?
    A. Contractor B. Owner
  4.  
    Owner may issue 1 or more Limited Notice to Proceed authorizations or a Full Notice to Proceed. What limitations must be followed when LNTPs are issued ?
    LNTP sets forth a limited scope of work for a fixed price .
  5.  
    What tax does the Owner have to pay under the contract?
    A. Property taxes B. Material Taxes C. Equipment Taxes D. Service Taxes
  6.  
    What is the term of payment for Riverstart IV for the Owner?
    A. 30 Days B. 45 Days C. 60 Days D. 90 Days E. 180 Days
  7.  
    What calendar day does the Contractor conduct a walk with the owner to verify Contractor invoicing?
    A. 10th of every month B. 5th of every month C. 15th of every month D. 1st of every month

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