Establishing secure connection…Loading editor…Preparing document…

New Build Contract

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

NEW BUILD CONTRACT

Parties and Effective Date

This New Build Contract ("Contract") is entered into by and between Buyer Name: and Builder Name: with an effective date of .

Contact and Identification

Financial Terms

Financing contingency: If Yes, Buyer must deliver written evidence of loan approval by .

Construction and Schedule

Construction Start Date:   Substantial Completion Date:   Estimated Closing Date:

Possession Date: . Time is of the essence for stated milestones; delays, extensions, and liquidated damages are addressed below.

All change orders affecting price or schedule must be documented in writing and signed by both parties prior to performance. Builder will provide written cost and time impact estimates for each proposed change order.

Inspections, Warranties and Insurance

Buyer shall be entitled to a pre-closing inspection to confirm substantial completion. Builder shall notify Buyer in writing at least seven (7) days prior to requested inspection. Buyer may engage independent inspectors at Buyer's cost.

Builder shall procure and maintain general liability, workers' compensation and builder's risk insurance appropriate to the work. Builder shall provide certificates of insurance to Buyer upon request and prior to commencement of work.

Permits, Liens and Compliance

Builder is responsible for obtaining all required permits and for payment of contractors and subcontractors. Builder warrants that work will comply with applicable laws, codes and ordinances. Builder shall promptly discharge any claims or notices of lien, or pay into escrow amounts sufficient to remove such liens prior to closing.

Default, Remedies and Liquidated Damages

If Buyer fails to timely perform payment obligations, Builder may suspend work and pursue all remedies available at law or equity, including retention of the earnest money as liquidated damages where permitted. If Builder fails to achieve substantial completion by the agreed date, Builder shall pay Buyer liquidated damages in the amount of per day, unless delay is excused under the Contract.

The parties' remedies are cumulative except where otherwise limited in this Contract. The non-defaulting party shall give the defaulting party written notice and thirty (30) days to cure, except where cure is not reasonably possible.

Disclosures

Lead-based paint disclosure:

Known mold or water intrusion:

Prior structural damage or repair:

Dispute Resolution; Governing Law

Any dispute arising out of or relating to this Contract shall be resolved first by good faith negotiation between the parties. If unresolved, the parties agree to . Governing law shall be the laws of the state in which the Property is located:

The parties waive trial by jury to the extent permitted by law and agree that any award or judgment shall include reasonable attorneys' fees and costs to the prevailing party when authorized by this Contract or applicable law.

Miscellaneous Provisions

Entire Agreement: This Contract, together with any attachments, plans, specifications and signed change orders, constitutes the entire agreement between the parties and supersedes all prior negotiations and agreements, whether written or oral.

Assignment: Neither party may assign its rights or obligations under this Contract without the prior written consent of the other party, which consent shall not be unreasonably withheld.

Notices: All notices required or permitted under this Contract shall be in writing and delivered to the contact addresses set forth above or as otherwise designated in writing.

Acknowledgment and Certifications

Each party certifies that the signatory signing on its behalf is authorized to execute this Contract, that the party has read and understands the terms and conditions herein, and that all representations made in this Contract are true and complete as of the Effective Date.

Buyer Printed Name:

By:

Date:

Builder Printed Name:

By:

Date:

Enter text✕
Prepare your document for signing right on this page
  • 01 Edit the text and complete the fields
  • 02 Click Sign Now and on the next screen add recipients and signature fields in SignNow
  • 03 Start your free trial to sign and send your doc
Sign Now

What a New Build Contract Covers

A New Build Contract is a written agreement that sets the terms for designing and constructing a new residential or commercial structure. It defines the project scope, deliverables, materials, schedule, pricing and payment milestones, change‑order procedures, permitting responsibility, warranty provisions, inspection and acceptance criteria, insurance and bonding requirements, retainage, and termination rights. The contract also allocates risks such as delays, unforeseen site conditions, and warranty claims, and typically includes dispute resolution and governing‑law clauses to clarify enforcement and remedies.

Why a Clear Contract Matters

A clear New Build Contract reduces disputes, sets expectations for cost and schedule, and preserves legal rights. Properly executed contracts enable enforceability under ESIGN and UETA when signed electronically, and improve project predictability and financial control.

Why a Clear Contract Matters

Who Typically Participates in a New Build Contract

Typical parties involved in a New Build Contract include owners, general contractors, architects, subcontractors, and lenders that fund the project.

  • Homeowners or developers who commission construction and control funding, approvals, and major design decisions.
  • General contractors responsible for overall project delivery, subcontractor coordination, scheduling, and compliance with building codes.
  • Architects, engineers, and specialty subcontractors supplying plans, specifications, and technical compliance during construction.

Identifying these roles early helps coordinate permits, insurance, approvals, and payment streams and reduces later administrative friction.

Key Signatory Roles

Project Owner

The entity funding the build and making principal decisions about scope, budget, and approvals. Owners must verify permits, confirm scope changes, and meet payment obligations per schedule; their timely responses affect contractor performance and potential change-order disputes.

General Contractor

Hires subcontractors, manages on-site execution, ensures compliance with safety and building codes, and administers the schedule and payments. The contractor typically provides warranties, maintains insurance and bonding, and documents progress for owner approvals and lien waiver management.

Essential Sections to Include

Core sections of a professional New Build Contract clarify scope, schedule, payment, change orders, warranties, and dispute resolution to reduce project risk.

Scope of Work

Describe in detail all deliverables, specifications, approved materials, allowances, and exclusions. Include drawings and referenced exhibits to avoid ambiguity that commonly causes costly delays and disputes during construction.

Schedule & Milestones

Define start date, completion date, milestone deadlines, liquidated damages or incentives, and procedures for extensions due to weather, permits, or unforeseen site conditions.

Payment Terms

State a precise contract sum or GMP, progress payment schedule, retainage percentage, invoicing requirements, acceptable supporting documentation, final payment conditions, lien waiver timing, and remedies for nonpayment.

Change Orders

Specify required written change orders, authorization process, pricing basis (unit price or time-and-materials), approval hierarchy, and how adjustments affect schedule, payments, and record retention.

Insurance & Bonding

List required insurance types and limits, builder's risk coverage, performance and payment bonds, and deadlines for proof of coverage to protect project stakeholders.

Warranties & Defects

Detail warranty periods, start date, exclusions, defect correction procedures, required notice periods, and remedies if warranty obligations are not met.

Step-by-Step: From Draft to Execution

Follow a consistent sequence to prepare, negotiate, and execute a New Build Contract to limit disputes and ensure regulatory compliance.

  • 01
    Gather Documents: Collect plans, permits, and cost estimates.
  • 02
    Define Scope: Detail inclusions, exclusions, and specifications.
  • 03
    Agree Terms: Negotiate price, schedule, and warranty.
  • 04
    Execute: Sign, notarize if required, and distribute copies.

Recommended Digital Workflow Settings

Typical digital workflow settings outline fields, signer order, authentication, reminders, and document retention for an electronic New Build Contract.

Field Configuration
Signer Order Owner first, then Contractor, then Architect
Authentication Email + SMS code; add KBA for high-value projects
Reminders Set automatic 3- and 7-day reminders before deadlines
Retention Store signed PDF and audit trail for at least 7 years

Platform Capabilities to Check

Electronic completion depends on format support, integrations, authentication strength, and how the platform preserves audit trails and records.

  • Formats: PDF and Word DOCX supported.
  • Integrations: Procore, NetSuite, Salesforce available.
  • Authentication: Email, SMS, two-factor options.

How Electronic Execution Works

Routing and acceptance processes clarify responsibilities, capture evidence for enforceability, and create an audit trail for contract administration.

  • Prepare Document: Draft contracts and attach plans and exhibits.
  • Assign Signers: Identify owner, contractor, lender, and architect.
  • Sign & Authenticate: Obtain signatures and required notarization or witness.
  • Record & Store: Distribute executed copies and archive securely.

Common Contracting Models Compared

Compare common contracting models to select pricing structure, risk allocation, and insurance requirements appropriate for your New Build Contract.

Criteria Design-Bid-Build Design-Build
Price Model fixed price gmp or negotiated
Primary Risk owner design risk contractor design risk
Change Order Frequency moderate potentially higher
Typical Use public bids fast-track projects

Vendor Pricing and Feature Snapshot for eSigning

Vendor pricing and feature differences affect cost and workflow for executing and managing New Build Contracts electronically.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial (no credit card) Varies by vendor Varies by vendor Varies by vendor Varies by vendor
Bulk Send Yes Yes Yes Yes No
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes Yes Yes No No

Key Dates and Their Meaning

Key contract deadlines determine entitlement to progress payments, inspection scheduling, notice periods for claims, and warranty start and expiration dates.

Contract Execution Date:

Marks when obligations begin and warranty clock starts.

Commencement of Work:

Contractor must begin no later than agreed start date.

Milestone Deadlines:

Defined dates trigger progress payments and inspections.

Final Completion:

Date for punchlist completion and final payment eligibility.

Warranty Period Start:

Typically begins on final completion or certificate of occupancy.

Project Milestones and Payment Triggers

Typical milestone sequence shows approvals, mobilization, core construction, and final closeout to track progress and payments.

01

Design & Permitting

Complete drawings and secure permits before mobilization.

02

Site Mobilization

Set up site, utilities, and initial inspections.

03

Core Construction

Major structural and MEP work completed to milestones.

04

Closeout & Handover

Punchlist, final inspections, occupancy certificate, and turnover.

Common Preparation Mistakes to Avoid

  • Vague scope descriptions that omit key specifications or references, leading to differing expectations and costly change orders.
  • Unclear payment schedules or absent retainage terms, which create disputes over invoices, progress payments, and final release.
  • Failing to require properly licensed contractors and insurance certificates, exposing owners to liability and code enforcement penalties.
  • Informal change management, oral approvals, or missing written change orders that invalidate pricing or schedule adjustments.

Risks and Financial Consequences

Delay Damages: Liquidated damages or lost revenue
Payment Default: Stop work, liens, collection costs
Unpermitted Work: Code violations, fines, rework costs
Warranty Claims: Repair obligations, extended liabilities
Change-Order Disputes: Cost overruns and schedule disputes
Termination Risk: Early termination fees and claims

Essential Contract Information Checklist

Owner Name: Enter full legal entity or person name.
Builder Name: Provide company name and license number.
Project Address: Include street, city, state, and ZIP.
Contract Price: Specify total lump sum or GMP amount.
Start/Completion Dates: Use MM/DD/YYYY for both dates.
Signatures: Typed or handwritten e-signature with date.

Practical Tips for Smooth Execution

Adopt the following best practices to reduce risk, improve clarity, and accelerate execution of New Build Contracts.

Use clear exhibits and schedules
Attach numbered drawings, detailed specifications, and an itemized allowance schedule. Cross-reference exhibits in the main body and require signed acknowledgement to prevent disputes over scope or material substitutions.
Define change order workflow
Require written change orders with defined approval authority, pricing methods, and updated schedules. Track requests, approvals, and cost impacts in a centralized log to preserve documentary evidence for claims or audits.
Link payments to milestones
Tie progress payments to measurable milestones with inspection and acceptance criteria. Specify retainage release conditions and documentation, and include remedies for late payments to protect contractor cash flow and owner expectations.
Preserve audit trails and records
Keep signed PDFs, audit logs, and communication records in a secure repository. Retain records according to tax, lien, and warranty obligations and ensure exportable formats for legal proceedings if needed.

Real-World Examples of Contract Use

These examples illustrate how teams use electronic contracts to accelerate execution, coordinate stakeholders, and maintain compliance on New Build projects.

Optica Ventures — New Build

Optica Ventures implemented digital contracting for new residential projects to reduce turnaround times and paperwork.

  • Adopted mobile signing on site to collect approvals.
  • As COO Brian Fitzgibbons said: "The interface is simple and easy-to-use for our team; more importantly, it is just as easy for our customers." The firm reports smoother handoffs between field teams and administrative staff while maintaining audit trails.

Xerox — Integration Use

Xerox integrated contract signing into its NetSuite workflows to standardize approvals across regions.

  • Enabled template-based execution tied to ERP.
  • Kodi‑Marie Evans (Director of NetSuite Operations) noted the flexibility to get signatures on the right documents and formats via integrated workflows, reducing manual rekeying and improving record consistency for audits.

Frequently Asked Questions

Common questions and practical answers to completing, signing, notarizing, and storing New Build Contracts in electronic workflows.


Need help? Contact support

be ready to get more
Join over 28 million airSlate SignNow users
Sign Now
Company
Forms
Pricing
Resources
Knowledge base
Other Products
© 2026 airSlate Inc. All rights reserved.