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Standard construction contracts should have the following information and clauses: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.More items...
Terms in this set (10) The two major components that make up the contract documents are the drawings and the project manual.
Elements of a Construction ContractName 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.More items...
And even though contracts are infinitely varied in length, terms, and complexity, all contracts must contain these six essential elements.Offer.Acceptance.Awareness.Consideration.Capacity.Legality.
Contract document include sufficient information to be able to complete the work or service....Contract Drawings and Specifications.Priced Bill of Quantities.Construction Programme.Project Quality Management Plan.Project Health and Safety Plan.Conditions of Contract.Risk Insurance.
What Should Be in a Construction Contract?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.More items...
A building contract should include information about the scope of the work, a defined start and finish date and a price for the work scheduled, however, this should be as detailed as possible to cover a number of scenarios.
A contract is valid and legally binding if the following six essential elements are present:Offer.Acceptance.Consideration.Intention to create legal relations.Legality and capacity.Certainty.
In the event of any conflict or inconsistency among the following documents, the order of precedence will be: (1) the applicable Service Order, (2) any exhibit, schedule or addendum to this Agreement, and (3) the body of this Agreement.
Standard Contract ElementsDOCUMENT TITLE. The title should briefly state the overall purpose of the document.UNIQUE NUMBER AND DATE OF AGREEMENT. A number used to identify that particular document.IDENTIFICATION OF THE PARTIES.RECITTALS.THE AGREEMENT.TERM OF CONTRACT.DEFAULT AND REMEDIES.COMPLIANCE WITH LAWS.More items...