Construction & Development Mechanic’s Lien A claim against property by contractors or suppliers for unpaid work.
Construction & Development Owner’s Representative A consultant managing a construction project on behalf of the property owner.
Construction & Development Payment Bond A surety bond guaranteeing the contractor pays subcontractors and suppliers.
Construction & Development Performance Bond A surety bond guaranteeing the contractor finishes the project as agreed.
Construction & Development Pre-Development The phase of a project covering planning, design, entitlements, and financing setup.
Construction & Development Pro Forma A projection of a property’s future income, expenses, and cash flows.
Construction & Development Pro Forma Income Statement A projected operating statement showing expected revenue and expenses post-construction.
Construction & Development Punch List A final list of small items to be completed or corrected before closeout.
Construction & Development Punch List Walk A pre-closing inspection identifying remaining items to be completed.
Construction & Development Retainage A portion of contractor payments withheld until project completion to ensure performance.
Construction & Development RFP Request for Proposal — invites contractors or design firms to bid on a project.
Construction & Development Feasibility Study An analysis determining whether a proposed development is financially and physically viable.
