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Commonly Asked Questions about Washington State Construction Contracts

$24.52 is the 25th percentile. Wages below this are outliers. $40.58 is the 75th percentile.
The 4 Different Types of Construction Contracts Lump Sum Contract. A lump sum contract sets one determined price for all work done for the project. Unit Price Contract. Cost Plus Contract. Time and Materials Contract.
Construction Contractors Must Be Registered. Washington State requires all construction contractors to register with LI. State law also requires construction contractors to be bonded and insured to protect the public. Once registered, contractors can bid, advertise, and perform construction work.
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
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.
To that end, before you sign anything and start working, make sure your contract has these 5 key elements. A Detailed Scope of Work. Project Cost and Payment Schedule. Construction Timeline. Change Order Process. Project Issues and Dispute Resolution.
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.
Within 10 days of payment from the owner, prime contractors are then required to pay their subcontractors and suppliers. Thus, subcontractors should expect payment within approximately 40 days of completion.