This form is designed for use between Renovation 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 Indiana.
Indianapolis Indiana Renovation Contract for Contractor
Category:
State:
Indiana
City:
Indianapolis
Control #:
IN-00462-16
Format:
Word;
Rich Text
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FAQ
Elements of a Construction Contract 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.
8 Things Every Remodeling Contract Should Have Scope of Work, Selection Sheet and Drawings.License Number and Insurance.Description of Change Orders.Warranty information.Subcontractor Agreements.Payment schedule.Completion Schedule / Timeline.Clauses Required by Law.
Here's how. Check Contract Basics. The basic job of a contractor agreement is to spell out the scope of the project's work.Set a Payment Schedule.Schedule Start and End Dates.Specify Change Orders.Research Your Arbitration Options.Turn Down the Contractor's Warranty.
Indiana Construction Warranties The home improvement must be free from defects caused by the installation of the following for two years: New plumbing systems; New electrical systems; New heating, cooling, and ventilating systems; or.
5 Key Elements Every Construction Contract Should Contain 1) The project's scope.2) The cost and payment terms.3) The project's time frame.4) Protection against lien law.5) Dispute resolution clauses.
Fixed price construction contracts, also commonly referred to as ?lump sum? or ?stipulated sum? contracts, are the most common types of construction contracts. As its name suggests, under a fixed price contract a contractor agrees to construct a project for a ?fixed? or agreed upon price.
3P Contractors mean individuals under an Integrator's direct supervision and control. 3P Contractors are engaged to perform services under a contract that includes appropriate non-disclosure and other promises sufficient to satisfy that Integrator's obligations under the Sublicense.
The 3 Types of Contractors General Contractors. The term ?general contractor? is used in two ways, in my experience.Turn-Key (Specialty) Services. If you don't like the idea of paying someone to manage your schedules and hire sub-contractors, you can do this work yourself.Freelance Workers.
The contract should describe, in detail, the products to be used and how the work will be performed, i.e., size, color, who will be doing what work, amounts of materials provided, manufacturer model number, etc. There must be a detailed, written payment schedule in the contract.
While each project is different, here are some key clauses construction law experts typically recommend including in a construction contract. Price Sum.Payment Terms.Change Orders.Claims.Resolutions.Termination.Insurance.