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Bid
A proposal to work for a certain amount of money, based on
plans and specifications for the project. A proposal to work
for a certain amount of money, based on plans and
specifications for the project.
Building Permit
A document issued by a governing authority, such as a
building department, granting permission to undertake a
construction project. A document issued by a governing
authority, such as a building department, granting
permission to undertake a construction project.
Call-back
An informal term for a return visit made by a contractor to
repair or replace items the home owner has found to be
unsatisfactory or that require service under the warranty.
An informal term for a return visit made by a contractor to
repair or replace items the home owner has found to be
unsatisfactory or that require service under the warranty.
CGR (Certified
Graduate Remodelor)
A professional certified program offered through the
National Association of Home Builders (NAHB) RemodelorsÔ
Council. To attain the CGR designation, a remodeler must
take a specified number of continuing education courses and
must comply with a strict code of ethics. A professional
certified program offered through the National Association
of Home Builders (NAHB) RemodelorsÔ Council. To attain the
CGR designation, a remodeler must take a specified number of
continuing education courses and must comply with a strict
code of ethics.
Change Order
Written authorization to the contractor to make a change or
addition to the work described in the original contract. The
change order should reflect any changes in cost. Written
authorization to the contractor to make a change or addition
to the work described in the original contract. The change
order should reflect any changes in cost.
Cost-plus
Contract
A contract between a contractor and homeowner based on the
accrued cost of labor and materials plus a percentage for
profit and overhead. Also known as a time-and-materials
contract. A contract between a contractor and homeowner
based on the accrued cost of labor and materials plus a
percentage for profit and overhead. Also known as a
time-and-materials contract.
Draw
A designated payment that is "drawn" from the total project
budget to pay for services completed to date. A draw
schedule typically is established in the contract. A
designated payment that is "drawn" from the total project
budget to pay for services completed to date. A draw
schedule typically is established in the contract.
Lien Release
A document that voids the legal right of a contractor,
subcontractor or supplier to place a lien against your
property. A lien release assures you that the remodeler has
paid subcontractors and suppliers in full for labor and
materials. A document that voids the legal right of a
contractor, subcontractor or supplier to place a lien
against your property. A lien release assures you that the
remodeler has paid subcontractors and suppliers in full for
labor and materials.
Mechanic’s Lien
A lien obtained by an unpaid subcontractor or supplier
through the courts. When enforced, real property—such as
your home—can be sold to pay the subcontractor or supplier.
Plans and
Specifications
Drawings for the project, and a detailed list or description
of the known products, materials, quantities and finishes to
be used in the project. Drawings for the project, and a
detailed list or description of the known products,
materials, quantities and finishes to be used in the
project.
Punch List
A list of items of work to be completed or corrected by the
contractor, typically near or at the end of a project. A
list of items of work to be completed or corrected by the
contractor, typically near or at the end of a project.
Subcontractor
A person or company hired directly by the contractor to
perform specialized work at the job site. Sometimes referred
to as a trade contractor. A person or company hired directly
by the contractor to perform specialized work at the job
site. Sometimes referred to as a trade contractor.
Please click here for additional information
or if you would like to contact the
author of this article, Debbie Emmons. Thank you!
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