What are the main differences between the CM agent and CM constructor delivery methods? Discuss advantages and disadvantages of each. What is the difference between a performance bond, payment bond, and bid bond? When are each used and why?

Discussion Response

In this second unit we review the rights and responsibilities of parties to construction contracts. For this week’s discussion, review the following questions from this week’s readings covering the main actors in contracts (Owner, Contractor & Design Professional). Select one question and provide a detailed response based on the readings and other resources (website, book, study aid, etc.).

What are the main differences between the CM agent and CM constructor delivery methods? Discuss advantages and disadvantages of each.

What is the difference between a performance bond, payment bond, and bid bond? When are each used and why?

What are the main categories of professional licensing laws and what do they entail? What is the principal sanction for unlicensed practice of architecture, engineering, or construction?

Your main post should be at least 250-300 words long. Be sure to provide APA format citations for the sources you use.