Commercial Construction Agreement With Canada
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FAQ
The CCDC 5A contract is used for construction management services only, while the CCDC 5B contract is used for both construction management services and the performance of the required work during the construction phase.
Elements of a construction contract Name of contractor and contact information. ... Name of homeowner and contact information. ... Describe property in legal terms. ... List attachments to the contract. ... The cost. ... Failure of homeowner to obtain financing. ... Description of the work and the completion date. ... Right to stop the project.
Here are four main construction contracts to choose from, plus their pros and cons: Lump-Sum Contracts. Cost-Plus-Fee Contracts. Guaranteed Maximum Price Contracts. Unit-Price Contracts.
To be legally enforceable, an agreement must contain all of the following criteria: An offer and acceptance; Certainty of terms; Consideration; An intention to create legal relations; Capacity of the parties; and, Legality of purpose.
The Canadian Construction Document Committee (CCDC) Contract Forms are widely used for the construction aspects of projects. The Fixed Price Contract (CCDC 2) is the most common standard form contract used for most projects in British Columbia and Ontario.