Final Estimates Flashcards
7 cards from real CTQP practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Final Estimates flashcards as text
Under FDOT Final Estimates, what action must be taken when measured quantities exceed the original contract quantity by more than 25%?
Answer: A price adjustment or renegotiation may be required for the excess quantity above the threshold
FDOT specifications allow for price renegotiation when quantities exceed or fall below the original contract amount by more than 25%, protecting both parties.
In the FDOT Final Estimates process, what is a 'Quantity Book'?
Answer: A record maintained by the Engineer documenting field measurements and computed quantities for pay items
The Quantity Book records all field measurements and quantity calculations made by the Engineer, providing the documentation basis for payment.
When is a 'Final Deduction' applied in FDOT construction contracts?
Answer: When the contractor fails to meet specified material or workmanship standards and the deficiency is not corrected
Final deductions are made when deficient work or materials are not corrected and the reduction compensates the Department for reduced value.
What is the role of the 'Progress Estimate' in relation to the Final Estimate?
Answer: Progress Estimates provide periodic partial payments during construction, with the Final Estimate reconciling all payments made
Progress Estimates allow the contractor to receive partial payments throughout the project, and the Final Estimate settles all accounts and corrects any discrepancies.
Under FDOT procedures, what is the maximum number of calendar days typically allowed for the contractor to submit a written claim after the Engineer's initial determination?
Answer: 30 days
FDOT specifications generally provide 30 calendar days for the contractor to submit a formal written claim following the Engineer's determination.
In FDOT Final Estimates, what does 'Lump Sum' payment mean for a pay item?
Answer: A single fixed payment is made for a defined scope of work regardless of the actual quantities used
Lump Sum items are paid a single predetermined amount for completing a defined scope of work, not based on measured quantities.
What is the 'Bid Schedule' used for in Final Estimates?
Answer: To list all contract pay items, their units, bid quantities, and unit prices as the basis for computing payments
The Bid Schedule contains the contract pay items, units, bid quantities, and unit prices that serve as the foundation for computing both progress and final payments.