Contingency Reserves Require a Construction Company to Hold Back Some

question 15

True/False

Contingency reserves require a construction company to hold back some funds in an account just in case something happens that increases the overall project cost.

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Definitions:

Explain

To make (an idea, situation, or problem) clear to someone by describing it in more detail or revealing relevant facts or ideas.

Forwarded

The act of sending a message or document received from one party to another party.

Routine Request

A standard or common query or application, often part of regular operations or transactions.

Clear Statement

A statement expressed in an unambiguous and straightforward manner, leaving no room for confusion or misunderstanding.