| A | B |
|---|
| Job-Site Overhead | Supportive and necessary on-site construction expense, such as construction support costs, supervision, bonus labor, field personnel, and office expense. |
| Joint Venture Partner | A party that contracts with another similar party on a project basis to provide greater financial strength, improved services or more acceptable performance qualifications as a combined organization to design, bid, and/or constructs a specific project. |
| Labor and Material Bond | A guarantee provided by a surety to pay claims against the owner from contractors and suppliers who have not been paid for labor, material. And equipment incorporated into the project. |
| Lien | The right to take, hold, or sell the property of a debtor as security or payment for a debt |
| Long-Lead Items | Material and equipment required for construction which have delivery dates too far in the future to be included in a contractor’s contract at bid time. They are pre-purchased directly by the owner. |
| Long Lead Time | The time between the purchase date and delivery date of long-lead items. |
| Milestone | Selected strategic events of signal importance to progress used in the milestone schedule. |
| Milestone Schedule | A schedule of milestones spanning from the start of construction to occupancy, used as the main measure of progress to keep the project on schedule |
| Multiple Prime Contracts | Contracts with work-scope contractors, individually awarded by the owner under a multiple contracting format. |
| Multiple Bidding | Soliciting and receiving bids from trade or work-scope contractors when using a multiple-contracting format. |
