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Standard construction contracts should have the following information and clauses: Name of contractor and contact information. Include the contractor's license number along with phone number, email address, and company address. Name of homeowner and contact information.
The five requirements for creating a valid contract are an offer, acceptance, consideration, competency and legal intent.
1Identifying/Contact Information.2Title and Description of the Project.3Projected Timeline and Completion Date.4Cost Estimate and Payment Schedule.5Stop Work Clause and Stop Payment Clause.6Act of God Clause.7Change Order Agreement.8Warranty.Everything You Need to Know about Drawing up a Construction\nwww.freshbooks.com > blog > construction-contract
Both parties should sign the contract, and both should be bound by the terms and conditions spelled out in the agreement. In general that means the contractor will be obliged to provide specified materials and to perform certain services for you. In turn, you will be required to pay for those goods and that labor.
Identifying/Contact Information. Title and Description of the Project. Projected Timeline and Completion Date. Cost Estimate and Payment Schedule. Stop Work Clause and Stop Payment Clause. Act of God Clause. Change Order Agreement. Warranty.
Do it when your brain is at its best. Set aside time to review the contract properly. Work back to front. Look at key definitions. Check time to submit notices. Word search the document for indem Don't skim the annexures.
#1: Review Your Bid. #2: Review Complete Plans. #3: Review All Specifications. #4: Visit the Job Site. #5: Review the Job Schedule. #6: Complete a Project Checklist. #7: Verify Project Funding. #8: Read Complete Contract.
General Requirements are used as the clearinghouse for items that do not apply directly to construction, the cost of which are customarily spread out over the entire project. These costs are also referred to as project overhead. For estimating purposes, either term is acceptable.