A Practical Issues and Improvement Methods of Construction Bond Call : Focusing on Advance payment bond and Performance bond

2019 ◽  
Vol 9 (4) ◽  
pp. 134-161
Author(s):  
Soon Tae Kim ◽  
Jae Kyung Han
Keyword(s):  
Advance Payment ◽  
Performance Bond ◽  
And Performance

Financial Instruments Used in the Financing Construction Project in Nigeria

2020 ◽  
pp. 24-35
Author(s):  
I. C. Osuizugbo
Keyword(s):  
Construction Industry ◽  
Construction Projects ◽  
Sampling Method ◽  
Construction Project ◽  
Cash Flows ◽  
Research Approach ◽  
Financial Instruments ◽  
Bond Performance ◽  
Advance Payment ◽  
Performance Bond

Financial instruments are one of the tools for increasing financing to fund construction projects. Stakeholders in the Nigerian construction industry face challenges such as profitability, delays, funding problems and contractor’s insolvency. A thorough knowledge of the financial instruments is required while framing the project cash flows, and access to finance from any financial institutions requires the terms and conditions of a particular financial instrument. This study seeks to identify the financial instruments used in financing construction project in Nigeria with the view to creating awareness and as well provide in-depth understanding of the financial instruments that will aid ease the funding problem of construction projects. A qualitative research approach was adopted. A purposive sampling method was used to identify 10 commercial banks in Nigeria. Ten interviews were conducted to identify and gain understanding of the current financial instruments used in financing construction project in Nigeria. The content analysis of the interview transcripts revealed that “advance payment guarantee”, “bid bond”, “performance bond”, “retention bond”, “bank guarantee” and “syndication loan” were the current financial instruments used in financing construction project in Nigeria. The findings provide in-depth understanding of the identified financial instruments for financing construction project through a literature review. These financial instruments are essential for fund security in the construction industry.

scholarly journals Assessment of bonds utilisation in the Nigerian construction industry

2019 ◽  
Vol 10 (5) ◽  
pp. 1607
Author(s):  
Usman Muhammed ◽  
Emmanuel Chididebere Eze ◽  
John Abel Tsado ◽  
Blessing Okokun
Keyword(s):  
Construction Industry ◽  
Scientific Method ◽  
Construction Projects ◽  
Financial Burden ◽  
Survey Method ◽  
Cost Performance ◽  
Construction Contracts ◽  
Advance Payment ◽  
Timely Completion ◽  
Performance Bond

Default by contractors in meeting the time and cost performance of a project is usually counterproductive. Considering safety from the high financial burden of construction projects, clients are compelled to seek a level of guarantee in bonds to safeguard them from financial problems and provide incentive for proper and timely completion of the project by the contractor, thereby minimising failures and risks. Therefore, the study assessed the level of bond utilization in Nigerian construction industry, with a view to examining the benefits of its utilisation in construction projects. Survey method was adopted in which questionnaires were used to collect data from respondents. With a response rate of 45.30% (164 of 362), the collected data were analysed using descriptive and analytical scientific method. It was found that the level of bond utilisation in construction contract is high, with performance bond and Advance payment bond being most commonly used construction bond types. Assurance of performance and financial security are the major benefits of bond utilisation. The study recommends that there is need for more enlightenment of construction participants on the various types bond used in construction contracts

scholarly journals Impact of Procurement Methods and Procurement Requirements on Cost Over-run of Public Building Projects in Uganda

2021 ◽  
Vol 4 (1) ◽  
Author(s):  
Julius Caesar Kwio-Tamale ◽  
Nathan Kibwami ◽  
Godfrey Mwesige
Keyword(s):  
The Novel ◽  
Building Projects ◽  
Bivariate Correlation ◽  
Margin Of Error ◽  
Bond Insurance ◽  
Additional Costs ◽  
Performance Bond ◽  
And Performance ◽  
Level Of Significance ◽  
Procurement Method

Cost over-run in building projects is endemic and routinely increases construction cost to as high as 52% of contract sums in Uganda. The consequence of this is underachievement of investment objectives due to additional costs to complete projects. This research investigated how procurement requirements and procurement methods combine to determine cost over-run of building projects. Procurement requirements of bid time, performance bond, insurance, workload and experience of contractors were investigated within contexts of procurement methods of open domestic bidding, restricted domestic bidding, open international bidding, restricted international bidding and requests for quotations. Purposive and snow-ball sampling were used in identifying construction professionals, consultants and contractors of building projects with cost over-runs. Correlation and independence of procurement requirements on 37 cost over-run datasets were analysed by Spearman's bivariate correlation co-efficient at 5% level of significance and variable inflationary factor of less than 5 respectively. Bid time and performance bond were found to reduce cost over-run of building projects most followed by workload and experience. Insurance increased cost over-run marginally. The novel contribution of this research is a model that explains 63% of cost over-run with 9% margin of error. Variants of the model, one for each procurement method is presented.

scholarly journals The Judicial Approach to Injunctions in Letters of Credit and Performance Bond Transactions: The Fraud Exception Re-examined.

2012 ◽  
Vol 10 (1) ◽  
pp. 35-65
Author(s):  
Ademuni Odeke
Keyword(s):  
Performance Bond ◽  
Fraud Exception ◽  
Letters Of Credit ◽  
And Performance

The Judicial Approach to Injunctions in Letters of Credit and Performance Bond Transactions: The Fraud Exception Re-examined.

Transmission Scanning Electron Microscopy and Energy Analysis with the Siemens ELMISKOP 101

1972 ◽  
Vol 30 ◽  
pp. 450-451
Author(s):  
H. M. Thieringer
Keyword(s):  
Objective Lens ◽  
Transmission Microscopy ◽  
Image Recording ◽  
Mode Of Operation ◽  
Scanning Transmission ◽  
Electron Microscopes ◽  
And Performance ◽  
Convergent Beam ◽  
Ray Path ◽  
Beam Diffraction

It has repeatedly been show that with conventional electron microscopes very fine electron probes can be produced, therefore allowing various micro-techniques such as micro recording, X-ray microanalysis and convergent beam diffraction. In this paper the function and performance of an SIEMENS ELMISKOP 101 used as a scanning transmission microscope (STEM) is described. This mode of operation has some advantages over the conventional transmission microscopy (CTEM) especially for the observation of thick specimen, in spite of somewhat longer image recording times.Fig.1 shows schematically the ray path and the additional electronics of an ELMISKOP 101 working as a STEM. With a point-cathode, and using condensor I and the objective lens as a demagnifying system, an electron probe with a half-width ob about 25 Å and a typical current of 5.10-11 amp at 100 kV can be obtained in the back focal plane of the objective lens.

Angular Resolved Electron Spectroscopy with Parallel Recording

1990 ◽  
Vol 48 (2) ◽  
pp. 370-371
Author(s):  
Huang Min ◽  
P.S. Flora ◽  
C.J. Harland ◽  
J.A. Venables
Keyword(s):  
Electron Spectroscopy ◽  
Low Voltage ◽  
Solid Angle ◽  
Detection System ◽  
Voltage Electron ◽  
Cylindrical Mirror ◽  
Inner Radius ◽  
Channel Plate ◽  
And Performance ◽  
Type Detector

A cylindrical mirror analyser (CMA) has been built with a parallel recording detection system. It is being used for angular resolved electron spectroscopy (ARES) within a SEM. The CMA has been optimised for imaging applications; the inner cylinder contains a magnetically focused and scanned, 30kV, SEM electron-optical column. The CMA has a large inner radius (50.8mm) and a large collection solid angle (Ω > 1sterad). An energy resolution (ΔE/E) of 1-2% has been achieved. The design and performance of the combination SEM/CMA instrument has been described previously and the CMA and detector system has been used for low voltage electron spectroscopy. Here we discuss the use of the CMA for ARES and present some preliminary results.The CMA has been designed for an axis-to-ring focus and uses an annular type detector. This detector consists of a channel-plate/YAG/mirror assembly which is optically coupled to either a photomultiplier for spectroscopy or a TV camera for parallel detection.

Novel epoxy/anhydride alternatives for biological electron microscopy: Physical and performance characteristis of embed 812 and LX 112 in combination with NSA/NMA/DMAE

1989 ◽  
Vol 47 ◽  
pp. 1000-1001
Author(s):  
Joe A. Mascorro ◽  
Gerald S. Kirby
Keyword(s):  
Electron Microscopy ◽  
Flow Rate ◽  
Succinic Anhydride ◽  
Volume Flow Rate ◽  
Mass Density ◽  
Uranyl Acetate ◽  
Volume Flow ◽  
Base Resin ◽  
And Performance ◽  
Acid Anhydrides

Embedding media based upon an epoxy resin of choice and the acid anhydrides dodecenyl succinic anhydride (DDSA), nadic methyl anhydride (NMA), and catalyzed by the tertiary amine 2,4,6-Tri(dimethylaminomethyl) phenol (DMP-30) are widely used in biological electron microscopy. These media possess a viscosity character that can impair tissue infiltration, particularly if original Epon 812 is utilized as the base resin. Other resins that are considerably less viscous than Epon 812 now are available as replacements. Likewise, nonenyl succinic anhydride (NSA) and dimethylaminoethanol (DMAE) are more fluid than their counterparts DDSA and DMP- 30 commonly used in earlier formulations. This work utilizes novel epoxy and anhydride combinations in order to produce embedding media with desirable flow rate and viscosity parameters that, in turn, would allow the medium to optimally infiltrate tissues. Specifically, embeding media based on EmBed 812 or LX 112 with NSA (in place of DDSA) and DMAE (replacing DMP-30), with NMA remaining constant, are formulated and offered as alternatives for routine biological work.Individual epoxy resins (Table I) or complete embedding media (Tables II-III) were tested for flow rate and viscosity. The novel media were further examined for their ability to infilftrate tissues, polymerize, sectioning and staining character, as well as strength and stability to the electron beam and column vacuum. For physical comparisons, a volume (9 ml) of either resin or media was aspirated into a capillary viscocimeter oriented vertically. The material was then allowed to flow out freely under the influence of gravity and the flow time necessary for the volume to exit was recored (Col B,C; Tables). In addition, the volume flow rate (ml flowing/second; Col D, Tables) was measured. Viscosity (n) could then be determined by using the Hagen-Poiseville relation for laminar flow, n = c.p/Q, where c = a geometric constant from an instrument calibration with water, p = mass density, and Q = volume flow rate. Mass weight and density of the materials were determined as well (Col F,G; Tables). Infiltration schedules utilized were short (1/2 hr 1:1, 3 hrs full resin), intermediate (1/2 hr 1:1, 6 hrs full resin) , or long (1/2 hr 1:1, 6 hrs full resin) in total time. Polymerization schedules ranging from 15 hrs (overnight) through 24, 36, or 48 hrs were tested. Sections demonstrating gold interference colors were collected on unsupported 200- 300 mesh grids and stained sequentially with uranyl acetate and lead citrate.

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