Construction Contract With Material In Cook

• Category: Construction - Contractors
• State: Multi-State
• County: Cook
• Control #: US-00462
• Format: Word; Rich Text

Description

The Construction Contract with Material in Cook is a formal agreement between a Contractor and an Owner, initiated on a specific date for the construction of a residential property. Key features of the contract include a clear scope of work, which defines the labor and materials required for the project, as well as the work site specifications. The contract specifies that the Contractor is responsible for obtaining necessary permits and regulatory approvals, with associated costs being borne by the project budget. It emphasizes the Owner's responsibility regarding soil conditions, indicating that any additional site work required due to soil issues will be an added expense. Insurance requirements for general liability, workers' compensation, and builder's risk are also outlined, protecting both parties during construction. The contract allows for changes to the work scope through written change orders, and sets forth payment terms which can be based on cost-plus or fixed fee arrangements. Late payment terms include a 1% fee for overdue payments beyond ten days, along with collection costs. Lastly, the warranty from the Contractor is limited to workmanship defects discovered within one year, while material warranties from manufacturers are assigned to the Owner. This contract serves as a vital tool for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects, ensuring clarity, legal compliance, and mutual understanding between parties.