Know More About Construction Agreement
What Is a Construction Contract Agreement
A construction contract agreement is a document that sets the scope and terms of work for a construction project. It is an agreement between the contractor doing the construction and the person or company who hires them to do the work.
What Construction Agreement Contains
The agreement should contain several sections of clauses defining the scope, terms, and conditions of the project, including:
What work will be done
When it will start and be completed by
Which parties will participate in the construction process
The cost of labor and materials
How the parties will communicate
Procedures for changing the scope of work or other parts of the agreement
How disputes will be resolved
Types of Construction Contract Agreements
All contracts should:
Be in writing
Contain a description of the product or service being offered
Be understood and clear between both parties
Include services being contracted clearly
Include cancellation or termination policy
Have financial terms clear
Key Takeaways Of Construction Agreement
A construction contract agreement is a document that sets the scope and terms of work for a construction project. It is an agreement between the contractor doing the construction and the person or company who hires them to do the work.
The agreement should contain several sections of clauses defining the scope, terms, and conditions of the project, including what work will be done, the project schedule, payment terms, legal requirements, how disputes will be resolved, and more.
A construction contract agreement protects the legal and financial stake of everyone involved in a construction project. Neither the owner of the construction company nor the owner of the property should start a construction job without one.
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