General Contractor


  • A business or person who contracts for and takes responsibility for completing a construction project. The general contractor also hires, supervises, and pays all subcontractors and suppliers.

construction specialist, jobsite overseer, building supervisor

Related Terms and Acronyms

  • Completion Bond Definition,
    • Insurance purchased to make sure that an important project is completed, even if something unexpected happens, financial or otherwise.
  • Contractor Definition,
    • Someone that agrees to furnish materials or perform services at a specified price.
    • One who constructs or oversees construction of a house or a large renovation.
  • 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.
  • 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).
  • Subcontractor Definition,
    • A person or company that does specialty work for a general contractor.
  • Wrap-Up Insurance Definition,
    • Liability insurance that covers workers on large-scale construction projects.
Compare. Calculate. Apply today.
Compare Mortgage RatesMortgage CalculatorsApply for a Mortgage