Construction Contracts Oregon Forestry In Minnesota

State:
Multi-State
Control #:
US-00462
Format:
Word; 
Rich Text
Instant download

Description

The Construction Contract for Oregon Forestry in Minnesota is a formal agreement between a Contractor and an Owner to outline the terms of construction work on a designated project. Key features of this contract include a detailed scope of work, which specifies the responsibilities of the Contractor regarding labor and materials. It also identifies the work site, outlining the location and any required regulatory permits that must be obtained by the Contractor at the Owner's expense. The contract places responsibility for soil conditions on the Owner, emphasizing the need for a thorough pre-construction assessment. Additionally, it stipulates that any changes to the project scope must be documented through written change orders, with cost increases agreed upon by both parties. Payment terms can be based on either cost-plus or fixed-fee structures, clearly defining how and when payments are to be made. Furthermore, a provision for late payment includes a late charge and potential collection costs. The Contractor offers a limited warranty on workmanship for one year, while material warranties are assigned to the Owner. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction, as it provides a comprehensive legal framework for construction projects, minimizes disputes, and outlines financial agreements clearly.
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  • Preview Construction Contract for Home - Fixed Fee or Cost Plus
  • Preview Construction Contract for Home - Fixed Fee or Cost Plus

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FAQ

Lesson Summary. A contract is a legal agreement between two or more parties in which they agree to each other's rights and responsibilities. Offer, acceptance, awareness, consideration, and capacity are the five elements of an enforceable contract.

If your project has a well-defined scope of work, a lump sum contract is a straightforward solution since contractors should be able to accurately estimate costs. If the project scope is unclear, contractors can bid with time and materials contracts to mitigate risk.

Minnesota's statute of repose prohibits suing a contractor for most construction defects after between 10-12 years after the home is substantially completed. First, the statute provides that a claim can be asserted only for causes of action that “accrue” during the 10 years after the home is substantially completed.

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.

A legally enforceable contract must include an offer, acceptance, consideration, capacity, legality, and mutual assent.

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Construction Contracts Oregon Forestry In Minnesota