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Payment Bond

 A surety bond posted by a contractor to guarantee that its subcontractors and material suppliers on the project will be paid. They are required in contracts over $30,000 with the Federal Government and must be 100% of the contract value. They are often required in conjunction with performance bonds.

Performance Bond

 A surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. A job requiring a payment and performance bond will usually require a bid bond to bid the job.

Physical Plan Room

 Plan rooms are physical structures with paper project documents, including drawings (blueprints), specifications and addenda (see also Online Plan Room).

Plan Holders List

 List of vendors/bidders who have purchased plans and specs for a construction bid.

Plan Room

 Plan rooms are physical structures with paper project documents, including drawings (blueprints), specifications and addenda (see also Online Plan Room).

Plans

 All the drawings pertaining to a planned construction project. Includes building, mechanical and electrical drawings.

Pre-design Stage

 The stage in the Construction Process when the owner comes up with the concept, permit and funding, and hires an architect, engineers and a spec book writer to put the plan to paper.  

Pre-qualification Management

 Product we offer that is typically purchased by GCs to manage subcontractor prequalification. Areas of primary focus are financial, bonding and safety.

Pre-qualified Bidders

 Contractors who have fulfilled all of the pre-qualification criteria as set forth by the solicitor. 

Private Projects

 Construction Projects funded by private investors.   

Project Leads

 Also known as the Internet Plan Room (IPR) and iSqFt for Subcontractors (i4S), this is the name for the service, information and tools we sell to subcontractors in the commercial construction industry. 

Public Project

 A construction project funded by tax dollars. A private project shows up in a public plan room when the GC decides to share the opportunity in order to get the word out to as many subcontractors as possible.