Easily Hide Option Choice in the General Contractor Agreement

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How to Hide Option Choice in the General Contractor Agreement

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joe just answer i just asked another question here while learning how to price a job did you under bid and realize it should have cost more for the job yes and i i think weve all gone through that you know everybody thats been in in construction uh there yeah theres definitely times where i under bid a job and i learned from that so now the way that i have it set up um you know over time you learn all this and if you have a good contract in place that can protect you and your customer then then thats thats where a lot of the times you know theres jobs we take on where theres an unforeseen circumstance you know and a lot of the new guys dont know like oh you know its gonna cost us more but i dont have this in my contract so the customers not wanting to spend more and they try to take advantage of of contractors as well sometimes so you know if its an unforeseen circumstance you should have that in your contract where you know if something shows up or theres rot or something

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What is the purpose of option contract?

An options contract is an agreement between two parties to facilitate a potential transaction involving an asset at a preset price and date. Call options can be purchased as a leveraged bet on the appreciation of an asset, while put options are purchased to profit from price declines.

How many main options can be included in any ECC contract?

Within the ECC contract there are a choice of six options of which the Client will choose which they deem to be the most suitable to give them the best cost certainty/value for money on that project: Option A: Priced contract with activity schedule.

What is the purpose of an option in real estate?

The purpose of an options contract in real estate is to offer the buyer alternatives. Outcomes may vary ing to the type of buyer, including early exercise, option expiration, or second-buyer sales. Real estate professionals use option contracts to provide flexibility on specific types of real estate transactions.

What is the purpose of an option contract quizlet?

An option contract, or option, an offer to purchase a specific piece of real estate, but without the obligation to buy it. the potential buyer (optionee) is required to pay an option fee to the seller (optionor).

What are the two purposes of options contracts?

There are two kinds of options contracts, called call and put options. You can buy options contracts to speculate on stocks, or you can sell these contracts to generate income.

Why use NEC option B?

Option B is a priced contract with a bill of quantities where the risk of carrying out the work at the agreed prices being is borne by the contractor. This document contains all the core and secondary option clauses, the shorter schedule of cost components, and contract data, relevant to an option B contract.

What is an option in contract law?

An option is an agreement that conveys the right to purchase property or engage in a transaction in the future upon agreed-upon terms.

What is the purpose of the option agreement?

Option Agreements are a legal contract between a landowner and potential purchaser of a site, typically a housebuilder. The housebuilder essentially has an opportunity to buy the site from the landowner through a valuation mechanism to determine the purchase price normally with a discount from market value.

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Hide Option Choice in the General Contractor Agreement