The specifications describe in writing the quality of the materials and the standards of ______ required. These documents serve four important functions One of the most critical ______ of the contract ______ tools Describing the work to be accomplished and defining the ______ of the participant's A ______ for competitive bidding or contract negotiation

A fixed price contract contains the most risk for the buyer.
B. Cost reimbursable contracts potentially offer sellers the highest profit.
C. Lump sum contracts potentially offer sellers the highest profit.
D. Unit price contracts are illegal in many jurisdictions.

A. cost plus award fee
B. cost plus incentive fee
C. cost plus fixed fee
D. fixed price

A. Flow down language makes applicable provisions of the prime contract also applicable to the purchase order.
B. “Free on board (FOB) construction jobsite” means the buyer would have bear risk of loss during transit.
C. In general, parties in item JV mutually share risks.
D. Chinese Law regulates that GC may subcontract part of its work without consent of the owner.

Analyzing and ascertaining the needs of the owner.
B. Developing a design that will meet the needs of the owner within the owner’s budget.
C. Performing on-site installation of equipment.
D. Assisting the owner in the selection of a contractor.