Materials or equipment that a contractor substitutes for those defined in contract documents, claiming that materials are equal to or better than those defined. A contractor must provide sufficient proof to engineer, who decides if materials are equal or better.
Material for use on one machine, one vehicle, one unit. For example, a car comes “equipped” with five tires. Tires other than those on the car are not “equipment” of the car. They are instead the dealer’s “stock of tires.”…
An amendment added to a written document, particularly an agreement between parties, altering its provisions.
Protects an employer against injuries sustained by employees that fall under common-law liability. This should not be confused with workers’ compensation liability, which is liability as defined by workers’ compensation law.
The fraudulent use of money or property that has been entrusted to one’s care.
The date on which an insurance policy or bond goes into effect, and from which protection is furnished.
Right of way, or similar right, over another’s land, e.g., the owner of land may grant passage over a certain portion of that land to another who may want to access another property or lake.
Coverage for damage caused by an earthquake as defined in the contract.
That portion of premium earned or charged for the period of time a policy remained effective. For example, an annual policy paid for in advance would be one-twelfth “earned” at the end of the first full month of its term.…