Contractor

Definition

  • Contractors generally sign a contract in order to provide materials, labour or consultation (guidance) within a predefined budget or timeline.
  • An individual or company that performs a service under contract, especially for construction work.

Synonyms
programmer, builder, handy-man, skilled labourer, carpenter, tradesman

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.
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