Dear Viewers,
In this video, I have told about Construction agreement model (i.e.,agreement between owner and contractor or engineer).
A construction contract is an agreement between a client and a contractor that specifies the details of a construction project. The details in a construction contract should include all aspects of the project, including payment, the type of work being done, legal rights of the contractor, and more.
For some types of construction projects, you may need government permits in addition to the construction contract before contractors can begin working.
A simple document will identify the following basic elements:
Owner: The party hiring the general contractor to complete construction on his or her property.
General contractor: The party responsible for the day-to-day oversight of the construction.
License number: The general contractor’s state license board number, proving they are a licensed contractor
Worksite: The address of the property where the construction is to be completed.
Description of work: A detailed description of the work and construction to be done by the contractor. You can also attach project plans and specifications to the agreement.
Contract price and payments: The total price to be paid for the work and how and when payments will be made.
Contract documents: any drawings, blueprints, exhibits or other documents that will part of the contract
Materials and labor: Which party will supply and pay for the cost of materials and labor.
Starting and completion dates: The dates the contractor must start construction and have the construction substantially completed by.
Licensing and permits: Which party will be responsible for obtaining any required licenses and permits.
Subcontracts: Whether the contractor will hire subcontractors to help perform part of the contractor’s obligations
Work changes: How any changes to the agreed upon work will be handled once construction has begun.
Warranties: How long will the contractor warrant that his or her work is free from material defects.
These additional elements can also be included,
Indemnification: The contractor promises to be responsible for any loss or damages incurred by the owner arising out of his or her work.
Dispute resolution: Arbitration, mediation, and adjudication are common ways for parties to settle disputes under the contract instead of going through the courts.
Termination: When the buyer or contractor can terminate the contract.
Inspection: Allows the owner to examine the work done by the contractor at any time during construction to see if it conforms with the contract terms.
Insurance: Owners and contractors are both responsible for obtaining insurance to protect against damages and defects, and claims and losses.
Liquidated damages: An amount per day that the contractor must pay to the owner for each day past the agreed upon completion date that construction is delayed.
Force majeure: Parties will not be responsible for non-performance due to unavoidable occurrences or circumstances beyond their control (e.g. hurricanes, earthquakes, shortage of materials, change in contract plans).
In addition, you can also specify how the worksite should be maintained, including supervision of the workers, storage of materials, and where waste can be dumped.
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31 мар 2022
