Contractor
Definition
- An individual or company that performs a service under contract, especially for construction work.
- Contractors generally sign a contract in order to provide materials, labour or consultation (guidance) within a predefined budget or timeline.
Synonyms
tradesman, builder, carpenter, handy-man, programmer, skilled labourer
Related Terms and Acronyms
- Borrow Pit — Definition,
- A hole from which topsoil, gravel, or other material is removed for use in a construction project.
- Cost-plus Contract — Definition,
- An agreement in which a construction contractor receives a fee based on a percentage of all costs paid for labour and materials.
- Developer — Definition,
- To develop or create something.
- Companies that buy land and put up buildings for rent or sale.
- Draw Mortgage (DM) — Acronym,
- A periodic payment made to a construction contractor or subcontractor as work progresses. A draw is part of a construction mortgage.
➥ See Progress Advance Mortgage (PAM). - General Contractor — Definition,
- The person or company that performs work on a construction project, hires subcontractors and suppliers, or both.
- Self-Build Insurance — Definition,
- Insurance that covers a homeowner for problems involved in a construction project.
- Subcontractor — Definition,
- A person or company that does specialty work for a general contractor.
