In accordance to best tender practices, in reference to the list of tenders below which contractor...
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In accordance to best tender practices, in reference to the list of tenders below which contractor is considered lowest (based on stipulated tender)? Contractors Brace Contractors Harold Builders Inc. Kay Construction Ltd. Ben Builders Company Contractors Stipulated Tender Brace Contractors Harold Builders Inc. Kay Construction Ltd. Ben Builders Company $224,800 $226,300 $228,844 $246,500 Alternative 1 $5,500 $3,100 $6,500 $2,500 Alternative 2 $3,800 $3,100 $4,100 $2,900 $226,300 $228,844 $246,500 Stipulated Tender $224,800 Alternative 3 Although not best tender practice, in reference to the list of tenders below (which are the same as the ones above), the owner and the consultants decide prior to awarding the contract to go with all the alternatives. Which general contractor would be awarded the contract for this job? -$2,800 -$4,800 -$1,800 -$2,800 Comment on the above practice of awarding based on alternatives. Alternative 4 -$3,800 -$6,800 -$4,800 -$2,800 Stipulated Tender c/w Alternates 2. 3. Eagle Construction is the general contractor who submitted a low tender for $825,000 which includes all subcontractors requested. There are several key subcontractors listed in Appendix A including a forming and a masonry contractor named Bent Forming and Red Masonry Ltd. The owner and the consultant are not very happy with both of these subcontractors and have requested a list of each of these trades. The following is provided. 5. Forming Subcontractor Align Forming Ltd. Ace Forming Ltd. Bent Forming Contractors Masonry Subcontractor Brown Masonry Ltd. Black Masonry Ltd. Red Masonry Ltd. The owner has picked the next 2nd lowest bidders in both instances. What will the new contract amount be? PROJECT Peters Condo Casey's Eatery Katherine School Manner Church Reno Tender "Contractor A" bid is $340,000 and they have a bid bond of $39,000 while "Contractor B bid is $375,000 and have a bid bond of $42,000. If "Contractor A" refuses to sign a contract how much of the bid bond must they give up and why? 4. "Contractor C" bid is $350,000 and they have a bid bond of $36,000 while "Contractor D" bid is $475,000 and have a bid bond of $60,000. If "Contractor C" refuses to sign a contract how much of the bid bond must they give up and why? Tally Bridge Project St. Ann Rectory Tender CONTRACT AMOUNT $68,500 $65,850 $46,888 A general contractor's working capital is $345,500. The general contractor's uncompleted work in progress is listed in the table below. $ 390,000 $ 340,000 $108,500 $124,850 $96,888 $ 635,500 $ 725,000 $ 405,000 $ 675,800 % COMPLETED 85 82 35 25 75 65 6. Calculate the maximum bonding value this general contractor could likely get? (Label each step and show calculations or not marks) An owner receives the following tenders from three general contractors: • PORK Contractor Ltd. BEEF Contractor Ltd. • SHEEP Contractor Ltd. What is the amount (actual face value) of the bid bond that each general contractor must post to the owner when he submits his tender? PORK Contractor BEEF Contractor SHEEP Contractor What would the face value amount of the Performance Bond (50%) for the lowest tender be? $ 2,698,423. $ 2,305,435. $ 2,919,500. What would the cost of the Performance Bond for the lowest tender given the following information ($6.75 per $1000 of the contract amount) If the lowest tender refuses to sign a contract and forfeits their bid bond, what amount that they are liable for? In accordance to best tender practices, in reference to the list of tenders below which contractor is considered lowest (based on stipulated tender)? Contractors Brace Contractors Harold Builders Inc. Kay Construction Ltd. Ben Builders Company Contractors Stipulated Tender Brace Contractors Harold Builders Inc. Kay Construction Ltd. Ben Builders Company $224,800 $226,300 $228,844 $246,500 Alternative 1 $5,500 $3,100 $6,500 $2,500 Alternative 2 $3,800 $3,100 $4,100 $2,900 $226,300 $228,844 $246,500 Stipulated Tender $224,800 Alternative 3 Although not best tender practice, in reference to the list of tenders below (which are the same as the ones above), the owner and the consultants decide prior to awarding the contract to go with all the alternatives. Which general contractor would be awarded the contract for this job? -$2,800 -$4,800 -$1,800 -$2,800 Comment on the above practice of awarding based on alternatives. Alternative 4 -$3,800 -$6,800 -$4,800 -$2,800 Stipulated Tender c/w Alternates 2. 3. Eagle Construction is the general contractor who submitted a low tender for $825,000 which includes all subcontractors requested. There are several key subcontractors listed in Appendix A including a forming and a masonry contractor named Bent Forming and Red Masonry Ltd. The owner and the consultant are not very happy with both of these subcontractors and have requested a list of each of these trades. The following is provided. 5. Forming Subcontractor Align Forming Ltd. Ace Forming Ltd. Bent Forming Contractors Masonry Subcontractor Brown Masonry Ltd. Black Masonry Ltd. Red Masonry Ltd. The owner has picked the next 2nd lowest bidders in both instances. What will the new contract amount be? PROJECT Peters Condo Casey's Eatery Katherine School Manner Church Reno Tender "Contractor A" bid is $340,000 and they have a bid bond of $39,000 while "Contractor B bid is $375,000 and have a bid bond of $42,000. If "Contractor A" refuses to sign a contract how much of the bid bond must they give up and why? 4. "Contractor C" bid is $350,000 and they have a bid bond of $36,000 while "Contractor D" bid is $475,000 and have a bid bond of $60,000. If "Contractor C" refuses to sign a contract how much of the bid bond must they give up and why? Tally Bridge Project St. Ann Rectory Tender CONTRACT AMOUNT $68,500 $65,850 $46,888 A general contractor's working capital is $345,500. The general contractor's uncompleted work in progress is listed in the table below. $ 390,000 $ 340,000 $108,500 $124,850 $96,888 $ 635,500 $ 725,000 $ 405,000 $ 675,800 % COMPLETED 85 82 35 25 75 65 6. Calculate the maximum bonding value this general contractor could likely get? (Label each step and show calculations or not marks) An owner receives the following tenders from three general contractors: • PORK Contractor Ltd. BEEF Contractor Ltd. • SHEEP Contractor Ltd. What is the amount (actual face value) of the bid bond that each general contractor must post to the owner when he submits his tender? PORK Contractor BEEF Contractor SHEEP Contractor What would the face value amount of the Performance Bond (50%) for the lowest tender be? $ 2,698,423. $ 2,305,435. $ 2,919,500. What would the cost of the Performance Bond for the lowest tender given the following information ($6.75 per $1000 of the contract amount) If the lowest tender refuses to sign a contract and forfeits their bid bond, what amount that they are liable for?
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Based on the stipulated tender the lowest contractor is Brace Contractors with a tender of 224800 Awarding based on alternatives is not considered a b... View the full answer
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Financial Accounting and Reporting
ISBN: 978-0273744443
14th Edition
Authors: Barry Elliott, Jamie Elliott
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