Tax-exempt bonds issued by governments to finance private infrastructure projects like pipelines or terminals. Subcontractors may work on bond-funded projects, which often carry strict procurement and reporting requirements. Understanding this can affect how you bid and invoice on qualifying jobs.
Private Activity Bonds
Related Terms
TOFD (Time-of-flight Diffraction)
IndustryAn ultrasonic weld inspection method used to detect and size internal flaws in pipelines and pressure vessels. Subcontractors performing NDT work must hold TOFD-specific certifications to qualify for this scope. It is widely accepted by regulators as an alternative to radiographic testing.
Preventive Maintenance
IndustryScheduled servicing of equipment before failures occur, reducing costly downtime on job sites. Subcontractors are often contracted specifically to perform PM work on client assets. Documented PM records also support compliance audits and contract renewals.
Integration Gap
IndustryThe disconnect that occurs when a subcontractor's systems cannot communicate directly with a prime contractor's or operator's software platforms. This forces crews to manually re-enter data such as timesheets, work orders, or inspection records. The result is delays, billing errors, and compliance risks in the field.
Modular Camp
IndustryA prefabricated, relocatable accommodation facility used to house workers on remote oil & gas or construction sites. Units are shipped and assembled on-site, then dismantled when the project ends. Subcontractors may bill camp costs separately or include them in their overall project pricing.
Shale Gas
IndustryNatural gas extracted from shale rock formations using hydraulic fracturing and horizontal drilling. For subcontractors, shale gas projects drive high demand for frac crews, equipment operators, and site services. Work is often concentrated in multi-well pad campaigns, creating steady but intense mobilisation cycles.
Legacy Site
IndustryAn older facility or work location operating on outdated infrastructure, systems, or equipment. Subcontractors often face non-standard conditions, ageing assets, and extra compliance requirements on these sites. Mobilisation and scoping costs can be higher due to undocumented or deteriorated site conditions.
Latest Industry News
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