The BOT Option for Large Projects Is Designed To

question 18

Multiple Choice

The BOT option for large projects is designed to:

• A)Automate the payment process.
• B)Automate the closeout process.
• C)Keep the door open for new projects between the customer and project organization.
• D)Limit risk for the customer in the short run.

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Definitions:

Mortgage Note

A legal document that evidences a borrower's debt to the lender, secured by a mortgage.

Real Estate Closing

The final step in executing a real estate transaction where the title of the property is transferred to the buyer, and all related costs are settled.

Deed

A deed is a legal document that represents the ownership and transfers the title of property from one party to another.

Proceeds

The amount of money received from a transaction or event, such as the sale of an asset or completion of a project.