Construction Contract Agreement In Ethiopia
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FAQ
Article 2610 of the Civil Code of Ethiopia defines a construction contract as "a contract of work and labor is a contract whereby one a party, the contractor, undertakes to produce a given result, under his own responsibility, in consideration of a remuneration that the other party, the client, undertakes to pay him."
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.
Ethiopia Construction Market Segmentation by Sectors The key sectors in the Ethiopia construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction.
Project Agreement Essentials Parties' names, information and date. Start off by spelling out the name of both parties, their addresses and the date of the agreement. ... Scope of the project. ... Duration. ... Compensation. ... Cancellation. ... Changes.
Here are five of the most important terms that should be a part of every construction contract. Scope of Work. Clients need to be clear about what a company is going to do for them. ... Payment Obligations. ... Insurance Information. ... Parties to the Agreement and Notice. ... Authority to Make Decisions.