8. Why might a contractor prefer having liquidated damages in a contract (rather than no provision for liquidated damages)?

Group of answer choices

A. Liquidated damages reduce the likelihood of litigation in the event of late completion

B. Contractors usually can avoid paying them by documenting problems during the project.

C. Liquids generally don't cause much damage.

D. Liquidated damages are accompanied by bonuses for early completion.

E. Contractors prefer to pay at the beginning of a project rather than at the end.

9. What is the point at which an owner can begin to occupy a building or use it for its intended purpose?

Group of answer choices

A. After final completion

B. After substantial completion

C. When the payment bond is terminated

D. At the end of the warranty period

10. Which contracting party generally carries the risk for differing site conditions if no clause in the contract addresses differing site conditions?

Group of answer choices

A. Insurance company

B. Contractor

C. Agent

D. Engineer

E. Owner

11. Which statement about allocation of risk regarding differing site conditions and bidding is not correct?

Group of answer choices

A. An owner should expect higher bids if he accepts more of the risk for himself regarding differing site conditions

B. Differing site conditions are typically less of a source of contention for cost-plus contracts than for lump-sum contracts.

C. A contractor bids higher for a project on which he assumes more risk regarding differing site conditions.

D. Unit prices in a bid help to mitigate the risk of differing site conditions to an owner and a contractor.

E. A contractor's bid will be affected by the allocation of risk.