This form is designed for use between Excavator Contractors and Property Owners and may be executed with either a cost plus or fixed fee payment arrangement. This contract addresses such matters as change orders, work site information, warranty and insurance. This form was specifically drafted to comply with the laws of the State of Texas.
Texas Excavator Contract for Contractor
Category:
State:
Texas
Control #:
TX-00462-15
Format:
Word;
Rich Text
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Description
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FAQ
The date of the contract. The names of all parties or entities involved. Payment amounts and due dates. Contract expiration dates. Potential damages for breach of contract, missed deadlines or incomplete services.
You shouldn't pay more than 10 percent of the estimated contract price upfront, according to the Contractors State License Board.
Timeframe or key milestones of the project; hours of work; deliverables of the project; and. way the business will pay the contractor for their services.
Your general contractor should provide proof of licensing, bonding and insurance before a project starts, but it's better to have it in hand before you sign any contracts. It's important that contractors carry any licensing and/or certification required for the specific trade or skill they practice.
Typically, pay no more than 1/3rd up front. completed 1/3rd of the job. to your satisfaction. Don't sign your insurance check over to a contractor.
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.
Name of contractor and contact information. Name of homeowner and contact information. Describe property in legal terms. List attachments to the contract. The cost. Failure of homeowner to obtain financing. Description of the work and the completion date. Right to stop the project.
An agreement between private parties creating mutual obligations enforceable by law. The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.
A: It's not uncommon for contractors to ask for a down payment up front to secure your spot on their schedule or purchase some of the job materials in advance. Asking for more than half of the project cost up front, though, is a big red flag.I recommend tying payments to progress made during the job.