West Virginia Subcontractor Agreement
Description
How to fill out Subcontractor Agreement?
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FAQ
Essentially, the paragraph should state at the very least, ?subcontractor, agrees to defend and indemnify the contractor (and others if applicable) against any claims, lawsuits and damages arising out of the subcontractor's negligence or intentional acts.? It also should include language concerning the subcontractor's ...
A payment clause that obligates the contractor on a construction contract, in the event that the contractor has not received payment from the state agency or local government for work performed by a subcontractor under such contract, to be liable for the entire amount owed to such subcontractor and to pay such ...
Virginia's Statute of Repose limits all actions against design professionals, contractors, subcontractors, and suppliers to five years at the outset. Va. Code § 8.01-250. This statute establishes an arbitrary termination date for construction liability, regardless of the cause of action.
Even if the owner does not pay the contractor, the contractor must pay the subcontractor within a ?reasonable? time after it performs. Virginia Senate Bill 550, which took effect on January 1, bans ?pay-if-paid? clauses in both private contracts (Section 11-4.6) and public contracts (Section 2.2-4354).
Limit your down payment or deposit. A good rule of thumb is an initial deposit of no more than 10% down or $1,000, whichever is less. Unless the job requires custom-made items or special orders, in which case an initial down payment should be no more than 30% of the total value of the contract.
8 things a subcontractor agreement should include Business information. Include names, businesses names, and contact information for both the subcontractor and the hiring contractor. ... Scope of work. ... Payment terms. ... Change orders. ... Licensing and insurance coverage. ... Dispute resolution. ... Termination clause. ... Flow-down provisions.
For example, a freelance trainer might be subcontracted to provide training to an end client on a specific area of expertise while the rest of the training package is provided in-house by the main contractor. In such circumstances, the scope of the works requested should be outlined in the subcontractor agreement.
For private projects, owners must pay general contractors within 60 days of receiving an invoice, while general contractors must pay their subcontractors or notify of withholding within the earlier of: (i) 60 days after a pay period expires, or; (ii) 7 days of receiving payment from a private owner.
