What are the requirements for a construction contract in Virginia?

Licensed contractors are required by law to provide a written contract for residential work, signed by both parties. Don't rely on verbal agreements. Get all guarantees, warranties, and promises in writing. Limit your down payment or deposit.

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Construction Contractor Forms
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Construction Contract for Home - Fixed Fee or Cost Plus

Construction Cost Contract Plus With Gmp In Virginia

Category:

Construction - Contractors

State:

Multi-State

Control #:

US-00462

Format:

Instant download

Description

The Construction Cost Contract Plus with GMP in Virginia is a formal agreement between a contractor and an owner for the construction of a specified project. This contract outlines key features such as the scope of work, work site details, insurance responsibilities, and soil condition disclaimers. Notably, it allows for changes to the work scope via written change orders and establishes payment structures either based on actual costs plus a fee or a fixed fee. The contractor's warranty is limited to workmanship defects within one year. This contract is particularly useful for attorneys, partners, and owners involved in construction projects, as it provides clarity on legal responsibilities and financial obligations. Associates, paralegals, and legal assistants can also benefit from understanding how to fill and edit the form to ensure compliance with local regulations in Virginia. The straightforward language and structure facilitate user comprehension, making it accessible even for those with limited legal experience.

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FAQ

Licensed contractors are required by law to provide a written contract for residential work, signed by both parties. Don't rely on verbal agreements. Get all guarantees, warranties, and promises in writing. Limit your down payment or deposit.

A general contractor license is mandatory if your business offers construction-related services in Virginia. However, the type of license you'll need depends on the size and type of projects your business will perform.

A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors.

In the area of law, for a contract to be legally enforceable, several requirements must be met, including an offer; acceptance of that offer; mutual understanding of the agreement; capacity to agree; an item or service; consideration in exchange for the item or service; and legality of the contract itself, including ...