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New Construction Contract Checklist Form
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People also ask
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What are the 4 types of construction contracts?
Here are four main construction contracts to choose from, plus their pros and cons: Lump-Sum Contracts. Cost-Plus-Fee Contracts. Guaranteed Maximum Price Contracts. Unit-Price Contracts. -
What is the most commonly used construction contract?
Lump sum contracts, also called fixed price contracts, establish a fixed price for all of the materials and labor required to complete a job. This is the most basic and common type of construction contract. -
What are the 5 essential elements of a construction contract?
Five Essential Elements of a Construction Contract Full Name, Address, and Signatures of Both Parties. Though this may sound obvious, this commonly overlooked element of construction contracts is required to make the contract legally binding. ... Scope of Work. ... Project Cost and Payment Terms. ... Schedule of Work. ... Authority. -
What do I need to know before signing a contract with a contractor?
Make sure all project materials and expectations are spelled out and signed in a written contract, including clean-up, debris removal, and site security. Ask your contractor if he or she understands your project expectations. Schedule and document each phase of your project and the corresponding payment schedule. -
What are the 4 types of construction projects?
The four main types of construction are: residential construction, commercial construction, industrial construction, and infrastructure construction. -
What should be included in a contractor agreement?
A contract should contain everything agreed upon by you and your licensed contractor. It should detail the work, price, when payments will be made, who gets the necessary building permits, and when the job will be finished. The contract also must identify the contractor, and give their address and license number. -
What are the 4 types of contracts?
4 Different Types of Contracts Sales Agreements. ... Non-Disclosure Agreements and Intellectual Property Management. ... Professional Service Agreements – Fixed-Price, Time and Materials, and Retainer-Based Contracts. ... Adhesion Contracts. -
What are the 5 elements of a construction contract?
Five Essential Elements of a Construction Contract Full Name, Address, and Signatures of Both Parties. Though this may sound obvious, this commonly overlooked element of construction contracts is required to make the contract legally binding. ... Scope of Work. ... Project Cost and Payment Terms. ... Schedule of Work. ... Authority.
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