A subcontractor is an individual or in many cases a business that signs a contract to perform part or all of the obligations of another's contract. Categories: Business | Academic disciplines | School subjects ... Jump to: navigation, search A contract is any legally-enforceable promise or set of promises made between parties. ...
A subcontractor is hired by a general or prime contractor to perform a specific task as part of the overall project. A contractor is in a legal sense one who enters into a binding agreement to perform a certain service or provide a certain product in exchange for valuable consideration, monetary, goods,services, even barter arrangements. ...
The incentive to hire subcontractors is a cut in cost to the general contractor while receiving the same or better service than the general contractor could have provided by itself. Most subcontractors do work for the same companies rather than different ones. This allows subcontractors to further specialize their skills. In economics, business, and accounting, a cost is a price paid, or otherwise associated with, a commercial event or economic transaction. ... Concept B is a specialization of concept A if and only if: every instance of concept B is also an instance of concept A; and there are instances of concept A which are not instances of concept B. For instance, Bird is a specialization of Animal because every bird is...
See also: Performance bond, Independent contractor A performance bond is a bond issued by an insurance company to guarantee satisfactory completion of a project by a contractor. ... An independent contractor is a person or business which provides goods or services to another entity under terms specified in a contract. ...
A subcontractor is an individual or in many cases a business that signs a contract to perform part or all of the obligations of another's contract.
A subcontractor is hired by a general or prime contractor to perform a specific task as part of the overall project.
The incentive to hire subcontractors is a cut in cost to the general contractor while receiving the same or better service than the general contractor could have provided by itself.
In the event that the Subcontractor delay’s the Contractor, the Subcontractor shall be notified in writing and have forty-eight (48) hours to perform under the terms of this contract, or the contract shall be immediately terminated at the option of the Contractor.
Subcontractor shall indemnify and hold harmless the Owner/Lessee, the Contractor, and all other subcontractors from and against any and all liability, loss cost, damage or expense, including but not limited to court costs and reasonable attorneys’ fees, occasioned by the failure of the Subcontractor to comply with the terms of this paragraph.
Subcontractor shall establish a safety program implementing safety measures, policy and standards which conform to those required or recommended by any government and quasi-governmental authorities having jurisdiction and by Contractor and the Owner/Lessee and include but are not limited to safety requirements imposed by the contract documents.
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