Florida General Contractor Estimating and Bidding Flashcards
6 cards from real Florida General Contractor practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Florida General Contractor Estimating and Bidding flashcards as text
In Florida construction estimating, what does 'CSI MasterFormat' provide?
Answer: A standardized numbering and naming system for organizing construction specifications and cost data
CSI MasterFormat provides a standardized organizational system with numbered divisions for organizing construction specifications and cost estimates.
When a Florida contractor submits a 'Schedule of Values' with a pay application, what is its primary purpose?
Answer: To allocate the total contract sum to individual work items for progress payment billing
A Schedule of Values breaks the contract sum into line items for each work component, enabling accurate progress billing and payment calculations.
What is 'retainage' in a Florida construction contract, and what is its typical percentage?
Answer: A percentage of each payment withheld until project completion, typically 5–10%
Retainage is a percentage of each progress payment withheld—typically 5–10%—until the project reaches substantial completion, providing owner security.
What does 'bid shopping' mean in the Florida construction industry, and why is it considered unethical?
Answer: Using a subcontractor's bid price to solicit lower bids from competitors after contract award, undermining trust
Bid shopping occurs when a GC uses a sub's price to pressure competitors to underbid after award; it's unethical because it violates trust and distorts competition.
Under Florida law, what is the maximum retainage that can be withheld on a public construction contract once the project is 50% complete?
Answer: Retainage can be reduced to 5% after 50% completion
Florida Statute §255.078 requires that retainage on public projects be reduced to no more than 5% once the project reaches 50% completion.
What is the purpose of a 'bid alternate' in Florida construction bidding?
Answer: An addition or deduction from the base bid for specified scope changes the owner may choose to accept or reject
Bid alternates allow owners to adjust the project scope based on budget by accepting or rejecting pre-priced additions or deductions to the base bid.