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Commonly Asked Questions about State-Specific Construction Forms

Lump sum contracts This is the most basic and common type of construction contract. Lump sum contracts work especially well for projects with a well-defined scope of work, which enables contractors to make an accurate estimate of the projects cost.
There are five common types of construction contracts: lump sum (or fixed price), time and materials (TM), unit price, guaranteed maximum price (GMP), and cost-plus.
Some of the most commonly used construction forms include: Bid Forms. Bid forms are integral to the bidding process in construction. Change Order Forms. Daily Construction Reports. Subcontractor Agreement Forms. Inspection Request Forms. Material Delivery Forms. Safety Inspection Forms. Progress Payment Forms.
How to Start a Construction Company in New York Name your New York construction company. Develop a construction business plan. Choose a business entity type. Find a location in New York. Get contractor licenses and permits. Register for taxes in New York. Plan your financials. Fund your New York construction company.
Contract Types Comparison Party 1 offers Bilateral Services or goods that are of value to the other party Unilateral Services or goods that the other party requested, usually in an open request Implied Services or goods Express Anything9 more rows Jan 26, 2022
Basic types of construction The four main types of construction are: residential construction, commercial construction, industrial construction, and infrastructure construction.
The basic elements required for the agreement to be a legally enforceable contract are: mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality.
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.