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What Are Insurance Certificates?
Insurance Certificates are provided by the insurance broker to verify that the contract insurance requirements will be met. Contracts usually require that the certificate state that the certificate holder (Client) be notified by a specified number of days prior to...
Why is Client’s Notice to Proceed (NTP) Important to the Consultant?
Notice to Proceed (NTP) is the Client’s official notification to the Consultant that the design may begin. NTP is frequently given with the transmittal of the contract when executed by the Client. The NTP should include the specific date on which it is issued, thus...
Who is Allowed to Sign a Contract?
Contract Signatory Requirements addresses the person signing the contract having authority to sign and thereby bind the entity entering the contract. Some Clients require a letter from the Corporate Secretary, bearing the corporate seal, stating that the person...
Why Should Contracts that Contain A Contingent Fee Be Avoided?
Contingent Fee Contracts for professional design services are ones in which payment to the Consultant for his or her service is dependent on the actions of an entity other than the Client. A Client may attempt to tie payment of a Consultant’s fee to receipt of a...
What Are Common Terms Regarding How Consultants are Paid?
Basis of Payment describes the method to be used to calculate the amount of money or fee owed to the Consultant. The following is a partial list of payment types in common use: Lump Sum – This method of payment stipulates that for a specific SOW, the Client will pay...
What are the Terms Commonly Associated with Preparing a Budget?
Budget is the term applied in reference to the amount of money available for payment to the Consultant. The term “cost” when used in connection with a budget usually refers to the amount of money available to pay for labor (salaries, wages, and overhead related...
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Lowe Consulting, LLC
John M. Lowe, Jr., P.E.
Happy Valley, OR