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Get Wa Hbca Lump Sum Building Contract

WA HBCA Lump Sum Building Contract OWNERS: JOB: SITE:Leo & Wendy BURKE A1021 Lot 418, No 21 King Street KENSINGTON WA 6151To verify your builder is a HIA member call 1902 973 555 HIA Contracts.

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How to fill out the WA HBCA Lump Sum Building Contract online

The WA HBCA Lump Sum Building Contract is an essential agreement for homeowners and builders engaged in residential construction projects. This guide will walk you through the process of filling out the contract online, ensuring all relevant details are accurately captured.

Follow the steps to successfully complete your contract.

  1. Click the ‘Get Form’ button to obtain the WA HBCA Lump Sum Building Contract. This will allow you to access the document necessary for your construction agreement.
  2. Fill in the owner details section. Enter the full names, addresses, and contact information of all owners involved in the contract. Make sure the information is accurate to avoid delays in communication.
  3. Provide builder details. Input the builder's name, address, registration number, and contact information. This includes ensuring that the builder is a member of the Housing Industry Association as required by law.
  4. Complete the site information. Fill in the exact address of the construction site, including lot number, street address, and locality. This ensures clarity on where the building work will take place.
  5. Specify the contract price. Clearly state the total contract price, including GST. This should reflect the agreed-upon amount for the construction project.
  6. Outline the payment schedule. Indicate the deposit and progress payments, detailing the amount due at each stage of the construction process.
  7. Fill in the timeframes. Provide realistic commencement and completion dates for the construction project, including any necessary approvals that need to be in place before work begins.
  8. Review the general conditions. Ensure that you understand the responsibilities of both the builder and the owner outlined in the contract.
  9. Sign and date the contract. Both owners and builders must sign and date the document to validate the agreement. Ensure all signatures are obtained before commencing work.
  10. Save your changes, then download, print, or share the completed form as necessary to keep all parties informed.

Complete your WA HBCA Lump Sum Building Contract online today and ensure a smooth construction process.

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Lump sum contract advantages include: No unforeseen costs for the owners. Simple cash flow management. Opportunity for a larger profit margin for contractors. Easy access to financing.

Disadvantages of a Lump Sum Construction Contract A lump sum agreement presents a higher risk to a contractor. Measuring the number of changes is difficult. Such contracts require paperwork and records of change orders from each phase, and this means further documentation is needed.

Lump Sum. A lump sum contract is where the contractor performs an agreed scope of works for an agreed lump sum price. That is, a fixed amount. A lump sum contract may be appropriate where the design of the construction project has enough detail to allow the contractor to propose an appropriate lump sum price.

A remeasurement contract is where the work is measured and valued against agreed rates. There is therefore no agreement as to a lump sum, but there is agreement as to the basis upon which the work will be valued.

Contractors will carry much of the risk with a lump sum contract. With the exception of owner-initiated changes, if there are any cost overruns outside of the agreed fixed price, the contractor is responsible for those costs.

In a lump sum contract, the owner has essentially assigned all the risk to the contractor, who in turn can be expected to ask for a higher markup in order to take care of unforeseen contingencies.

Lump Sum Contract Pros & Cons Simplicity. Lump sum contracts are the simplest form of construction contract. ... Profitability. ... Financing is easier. ... Paperwork is straightforward. ... Cash flow is easier to manage. ... High contractor risk. ... Potentially more expensive. ... Projects can't be fluid.

A lump sum contract in construction is one type of construction contract, sometimes referred to as stipulated-sum, where a single price is quoted for an entire project based on plans and specifications and covers the entire project and the owner knows exactly how much the work will cost in advance.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232