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Recruiter's Glossary

Examples: Critical Path • Design-Bid-Build • Payment Application

Contracting Terms

Understanding these terms will help you better evaluate candidates and communicate with hiring managers

Addendum

Schedule of Values

Demobilization

Prime Contractor

Performance Bond

Liquidated Damages

IPD (Integrated Project Delivery)

Progress Payment

Progress Billing

Bid Bond

Lump Sum

Closeout Documents

AIA Documents

Design-Build

Change Directive

JOC (Job Order Contracting)

Special Conditions

Cost Plus

Project Schedule

Milestone

General Conditions

Final Completion

Warranty Period

Scope of Work

Design-Bid-Build

Back Charge

Notice to Proceed

Pre-Qualification

Release of Liens

Lien Waiver

GMP (Guaranteed Maximum Price)

Bid Package

Critical Path

Retention

Force Majeure

Time and Materials

CM at Risk

O&M Manuals

Payment Application

Punch List

Site Conditions

Subcontractor

Payment Bond

As-Built

Substantial Completion

Mobilization

Unit Price

Float Time

Hard Bid

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