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Academy/ Real Estate & Construction/Glossary

Glossary for Real Estate & Construction.

Plain-language definitions of the terms you will meet.

Above-guideline increases — Treadstone Academy

Aging your holdback receivable — Treadstone Academy

Alternative solutions under the building code — Treadstone Academy

As-builts vs record drawings — Treadstone Academy

Type 1, 2 and 3 asbestos operations — Treadstone Academy

Bid bond: what it promises the owner — Treadstone Academy

Bid depository: how trade bids get filed — Treadstone Academy

Bonding capacity and why yours has a ceiling — Treadstone Academy

The builder licence and what it requires — Treadstone Academy

BIM: what it is on a real project — Treadstone Academy

Building permit vs development permit — Treadstone Academy

The CAM reconciliation at year end — Treadstone Academy

Cap rate, and what it hides — Treadstone Academy

Cash allowances and how they get spent — Treadstone Academy

CCA 1: the standard subcontract form — Treadstone Academy

CCDC 2: the stipulated price contract — Treadstone Academy

CCDC 5B and construction management at risk — Treadstone Academy

Certificate of qualification, trade by trade — Treadstone Academy

COR: the certificate of recognition — Treadstone Academy

The certificate of substantial performance — Treadstone Academy

Change order vs change directive — Treadstone Academy

Clash detection during coordination — Treadstone Academy

Commissioning vs turnover — Treadstone Academy

Committed cost vs actual cost — Treadstone Academy

CAM charges and what belongs in them — Treadstone Academy

Common element vs exclusive-use common element — Treadstone Academy

Compulsory vs voluntary trades — Treadstone Academy

Charging a repair back to an owner — Treadstone Academy

The CAT and what it can decide — Treadstone Academy

Confined space entry permits: what the permit proves — Treadstone Academy

Construction trust funds: whose money is it — Treadstone Academy

Constructor vs. employer: who OHSA holds liable — Treadstone Academy

Contemplated change notice, before the price — Treadstone Academy

Prequalification, and why a bid gets refused — Treadstone Academy

Cost-to-complete forecasting — Treadstone Academy

Critical injury reporting: what triggers it — Treadstone Academy

Critical path and float, explained — Treadstone Academy

What a daily site log has to record — Treadstone Academy

Declaration, by-laws and rules — Treadstone Academy

Deficiency list vs punch list — Treadstone Academy

Delay claims: what has to be proven — Treadstone Academy

Delayed closing compensation — Treadstone Academy

Dependent contractor: the middle category — Treadstone Academy

Deposit protection on a new home — Treadstone Academy

Design-build, in one page — Treadstone Academy

Development charges and when they are set — Treadstone Academy

Earned value on a construction job — Treadstone Academy

Encroachment agreements — Treadstone Academy

Estoppel certificate: why the lender wants it — Treadstone Academy

Experience rating: how it sets your WSIB premium — Treadstone Academy

The field level hazard assessment (FLHA) form — Treadstone Academy

Finishing holdback vs basic holdback — Treadstone Academy

General conditions vs general requirements — Treadstone Academy

Gross lease vs net lease — Treadstone Academy

Altering a heritage-designated property — Treadstone Academy

Integrated project delivery (IPD) — Treadstone Academy

Interim adjudication: a decision, not a trial — Treadstone Academy

Internal equipment charge-out rates — Treadstone Academy

The irrevocable period on a tender — Treadstone Academy

Cost codes, and why yours are a mess — Treadstone Academy

Job hazard analysis vs. FLHA: what's the difference — Treadstone Academy

Job margin vs company margin — Treadstone Academy

Joint health and safety committee: who needs one — Treadstone Academy

Journeyperson-to-apprentice ratios — Treadstone Academy

Labour and material payment bond — Treadstone Academy

Legal non-conforming use — Treadstone Academy

Liquidated damages on a construction job — Treadstone Academy

Lockout/tagout on a construction site — Treadstone Academy

Maintenance standards for rental housing — Treadstone Academy

Price escalation clauses on materials — Treadstone Academy

The four tests for a minor variance — Treadstone Academy

The N4 arrears notice — Treadstone Academy

Near miss investigation: why bother if no one's hurt — Treadstone Academy

Net operating income, line by line — Treadstone Academy

The one, two and seven-year warranty tiers — Treadstone Academy

Notice of non-payment, in plain terms — Treadstone Academy

Notice of project: when you must file one — Treadstone Academy

Occupancy permit vs final inspection — Treadstone Academy

Recovery ratio on operating costs — Treadstone Academy

O&M manuals and the closeout package — Treadstone Academy

Overbilling vs underbilling — Treadstone Academy

Overhead recovery inside your unit rates — Treadstone Academy

Overtime rules on a construction crew — Treadstone Academy

Part 3 vs Part 9 buildings — Treadstone Academy

Pay-when-paid clauses and what they really do — Treadstone Academy

Percentage of completion revenue — Treadstone Academy

Percentage rent and the natural breakpoint — Treadstone Academy

Performance bond: who it actually protects — Treadstone Academy

The PDI form, and what it actually fixes — Treadstone Academy

Preserving a lien vs perfecting one — Treadstone Academy

Prime contractor duties on a BC site — Treadstone Academy

Project agreements in unionized work — Treadstone Academy

What makes an invoice a ‘proper invoice’ — Treadstone Academy

ROE on a seasonal layoff — Treadstone Academy

Record of site condition — Treadstone Academy

The Red Seal endorsement — Treadstone Academy

What registering a construction lien does — Treadstone Academy

Rent deposits: what a landlord may hold — Treadstone Academy

Reserve fund study classes — Treadstone Academy

Rezoning: what actually happens — Treadstone Academy

RFI: the question that stops the work — Treadstone Academy

Schedule baseline, and when to re-baseline — Treadstone Academy

The self-supply rule for builders — Treadstone Academy

What a shop drawing review stamp means — Treadstone Academy

Silica exposure control plans — Treadstone Academy

Site instruction vs change order — Treadstone Academy

Site plan control agreements — Treadstone Academy

The status certificate package — Treadstone Academy

Statutory holdback: money you must keep back — Treadstone Academy

Stipulated price vs cost-plus — Treadstone Academy

The submittal register and who owns it — Treadstone Academy

What substantial performance actually means — Treadstone Academy

T5018: reporting what you paid subs — Treadstone Academy

Tenant improvement allowance — Treadstone Academy

Addenda: the late changes that bind your bid — Treadstone Academy

The three-week lookahead, and its point — Treadstone Academy

Toolbox talks and the record you keep — Treadstone Academy

Travel time: paid or not? — Treadstone Academy

Triple net lease, the Canadian version — Treadstone Academy

Unbalanced bids and why owners reject them — Treadstone Academy

Unit price contracts and quantity risk — Treadstone Academy

Vacating a lien by posting security — Treadstone Academy

Value engineering: savings or scope cuts? — Treadstone Academy

Vital services you cannot shut off — Treadstone Academy

Conciliation on a warranty claim — Treadstone Academy

Warranty period vs maintenance period — Treadstone Academy

What a rent roll has to show — Treadstone Academy

The WIP schedule your bank asks for — Treadstone Academy

A work refusal, step by step — Treadstone Academy

Working capital and bonding ratios — Treadstone Academy