| A | B |
|---|
| ACM | A contractual form of the CM system exclusively performed in an agency relationship between the construction manager and owner. ACM is the form from which other CM forms and variations are derived. |
| Agent | A legal relationship where one party is authorized to act in behalf of, and in the best interest of, another party, as defined in an agreement between the parties. |
| Contract | A legal document that binds two or more parties to specific and implied obligations. |
| Bid | A binding offer, usually expressed in dollars to provide specific services within clearly stated requirements. |
| Bid Bond | A pledge from a third party (usually a surety company) to pay liquidated damages to the owner to the extent of the difference between the bonded contractor bid and the next highest bidder but not to exceed the face value of the bond; if the bonded contractor declines an award offered by the owner. |
| Bid Documents | The documents distributed to contractors by the owner for bidding purposes. They include drawings, specifications, form of contract, general and supplementary conditions, proposal forms, and other information including addenda. |
| Change Order | The document that alters the contract amount, contract time, or contract requirements of the original contract entered into by the owner and a contractor. |
| Change Conditions | Conditions or circumstances, physical or otherwise, which surface after a contract has been signed and which alter the circumstances or conditions on which the contract is based. |
| Claim | A formal notice sent by a contractor to an owner asserting the fact that the terms of the contract have been breached and compensation is being sought by the contractor from the owner. |
| CM Partnering | A contractual commitment by the Owner, A/E, and CM to achieve a common goal, and doing so without a stakeholder’s exposure to a potential for conflict of interest in pursuit or that goal. |
| Conditions of the Contract | Term that refers to the General Conditions and the Supplementary and Special Conditions of the contract for construction. |
| Contract Administration | Servicing the interactive provisions in the contracts for construction between the owner and the contractor(s) |
| Contract Documents | The documents which collectively form the contract between the contractor and the owner. They consist of the bidding documents less bidding information plus pre-award addenda and post-awarded Change Orders. |
| Contractibility | The optimizing of cost, time, and quality factors with the contracting structures and techniques used on a project; accomplished by matching owner contracting requirements with available construction industry practices. |
| Employment Agreement | A contract binding an employee to an employer for a specific length of time and for disclosed compensation. |
