O

A permit issued by a local authority or building surveyor which authorises the lawful occupation of a building.  Usually required as a precondition to Practical Completion.

The formulation and implementation of safety and health standards in workplaces. This term is now referred to as Work Health and Safety (WHS) except in Victoria and Western Australia

A legal obligation on an occupier of premises, by reason of its control of those premises, to use reasonable care to prevent a visitor from coming to harm on the premises.

An insurance policy providing coverage for events occurring during the period of insurance, regardless of when the claim is made.  Most public liability insurance policies are occurrence-based policies. (See also Claims-made Policy).

Overhead Expenses incurred other than at the project site, eg at head office.

An offer made from one party to another to settle a dispute or bring legal proceedings to an end upon acceptance.

A bond which is payable on the demand of the party to whom it is payable.

Overhead Expenses incurred at the project site, eg the cost of electricity on site.

A contract that affords a principal a right of access to the contractor's documents and records relating to a project.

An agreement between the Principal and an operator to operate and maintain a facility upon completion.  The O&M Contract sets out the obligations of the operator in return for compensation from the Principal, and usually addresses issues such as operating procedures, facility maintenance, procurement of spare parts, performance levels and guarantees.

A Contract that is not evidenced in writing. (See Contract)

The order in which documents, drawings and specifications in a contract are prioritised and interpreted in the event of any inconsistency.

Expenses incurred by a party that are generally not attributable to any particular part of a project or product (eg supervision, accounting costs).  OH&P is an acronym commonly used by contractors for overheads and profit.