Time and Material Building and Construction Contract - Owner to Supply Materials
About this form
The Time and Material Building and Construction Contract - Owner to Supply Materials is a legal agreement used in construction projects where the owner provides the required materials while the contractor is compensated based on the hours worked and materials utilized. This type of contract combines aspects of both unit pricing and cost-plus contracts, eliminating separate fees by incorporating labor costs, overhead, and profit into the hourly rates. It is distinct from fixed-price contracts, allowing for flexibility but requiring clear documentation of all expenses and labor hours.
Main sections of this form
- Agreement details including names and addresses of the owner and contractor
- Description of the work to be performed
- Contract price based on hourly rates for labor
- Progress payment terms with conditions for withholding payments
- Final payment stipulations contingent on lien releases
- Responsibilities of both the owner and contractor
- Insurance requirements and liability clauses
Common use cases
This form should be used when entering into a construction agreement where the owner supplies materials and the contractor is paid based on time and effort expended. It is particularly suitable for projects where the scope is not entirely defined upfront, allowing adjustments based on actual work performed. Common scenarios include renovation projects, custom builds, or when existing structures require uncertainty in material needs and labor hours.
Who this form is for
- Property owners seeking a flexible construction agreement
- Contractors who prefer compensation based on actual labor and resources used
- Individuals involved in home renovations or custom building projects
- Homeowners needing a transparent agreement on the materials and labor costs involved
How to prepare this document
- Identify and enter the names and addresses of the owner and contractor.
- Clearly describe the work to be performed and the location.
- Specify the hourly rate for labor and terms for progress payments.
- Include starting and completion dates for the project.
- Ensure each party fills in the respective signatures for validation.
Notarization guidance
This form does not typically require notarization to be legally valid. However, some jurisdictions or document types may still require it. US Legal Forms provides secure online notarization powered by Notarize, available 24/7 for added convenience.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Failing to clearly define the scope of work can lead to disputes.
- Not documenting materials provided by the owner or the contractor's hours accurately.
- Overlooking local laws regarding lien releases and contract terms.
- Not specifying payment terms and conditions adequately.
Advantages of online completion
- Easy access to customizable templates tailored to your project needs.
- Immediate downloads that allow for quick implementation in your project.
- Reliable legal language drafted by licensed attorneys to ensure compliance.
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FAQ
Time and material (T&M) contract is absolutely different. It presupposes billing clients for actual work scope based on hourly rates of labor. Customers are charged for the amount of hours spent on a specific project, plus costs of materials.
Time and Material (T&M) contracts are not "cost-type" (i.e., cost-reimbursement) contracts.
Time and materials (T&M) contracts are used in construction when the project's scope isn't predetermined, making it difficult to agree on a fixed price and timeline for the contract.
Time & Materials contracts (a.k.a. T&M) are contracts where a Client pays only for the time spent by the Vendor and any materials they buy to finish the project. Proposals for T&M projects should come with a rate card outlining how much the Vendor will charge for the time of each of their team members.
A fixed price contract defines the service to be provided very specifically, and then sets a single price for the project, regardless of how much time and expense your company incurs.Time-and-materials, on the other hand, bills the client for the hours spent on the project, as well as expenses you incur.
Time-and-materials (T&M) contracts may be used for acquiring supplies or services. These contracts provide for the payment of labor costs on the basis of fixed hourly billing rates which are specified in the contract.
Time and materials (T&M) is a standard phrase in a contract for construction, product development or any other piece of work in which the employer agrees to pay the contractor based upon the time spent by the contractor's employees and subcontractors employees to perform the work, and for materials used in the
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.