WELCOME TO OUR Building dictionary : Firestop to fixed price contract PROJECT
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Summary: Building dictionary to explain building jargon and terminology from A - Z.
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Building dictionary for the letter F - Page 10
Firestop
A device used to slow the spread of fire by limiting drafts.
Firing
The controlled-heat treatment in a kiln or furnace, of ceramic or brick ware.
First coat
The initial application of mortar, known as base coat in two-coat work, and scratch coat in three-coat work.
First floor
(1) In the U.S., the floor of a building at or closest to grade. (2) In Europe, the floor of a building above the ground floor.
First in first out (FIFO)
A type of accounting for inventory in which items purchased first are assumed to be the first to be sold. An accountant will compute the cost and profit on the oldest or first in the inventory. See also last in first out (LIFO).
First mortgage
The mortgage or security in a property that takes precedence over all other mortgages on the property.
Fishplate
A metal or timber plate fastened to the sides of two beams or rails to splice the two ends together.
Fitch
A thin, long-handled paintbrush used especially for touching up recessed areas.
Fitting
(1) A standardized part of a piping system used for attaching sections of pipe together, such as a coupling, elbow, bend, cross, or tee. (2) The process of installing floor coverings around walks, doors, and other obstacles or projections. (3) In electrical wiring, a component, such as a bushing or locknut, that serves a mechanical purpose rather than an electrical function.
Fixed assets
Assets, such as real property, that are not readily converted to cash.
Fixed beam
A structural beam with fixed, as opposed to hinged, connections.
Fixed costs
These costs can be defined in two different ways. In total, fixed costs remain the same as volume changes. On a per unit basis, fixed costs decline as volume increases. Examples include office rent, administrative salaries, insurance, and office supplies.
Fixed fee
A fixed amount specified in a contract to compensate a contractor for all materials and services required to complete the project.
Fixed light
A window or portion of a window that does not open.
Fixed rate mortgage
A mortgage on which the interest rate remains the same through the period of the loan.
Fixed sash
See fixed light
Fixed transom
A glass light or panel that is built above a door and cannot be opened.
Fixed-bar grille
A grille with preset, nonadjustable bars, used to cover return and exhaust openings in air-conditioning systems.
Fixed-pin hinge
A hinge with a pin fixed permanently in place.
Fixed-price contract
A type of contract in which the contractor agrees to construct a project for an established price, agreed in advance.
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