Replace Currency into the Building Contract and eSign it in minutes

Aug 6th, 2022
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How to Replace Currency into the Building Contract

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all right lets here we are good morning everybody welcome to the webinar today were gonna talk about the part ten eleven story this is fantastic Im glad to see everybody join us this morning because this is a great topic I dont know if part 10 11 was ever great Manny but I think its time to make part 10 11 great again and so thats I think what were going to try to achieve today is have a really good understanding of part 10 11 and have a good talk about it because I think its one of the areas of the Ontario Building Code that we find people struggle the most with and it is understandable that it is that way and simply because theres so much misdirection theres so easy to go the wrong direction make the wrong a mistake with where youre supposed to go in the code making sure that youre only applying certain requirements in the new sections of the code when its required these are the real big stumbling blocks that I find when I go through the building code so thats really wh

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Classic examples of change orders include the owners desire to move the location of a wall to accommodate some other design element, adding a window where there was none in the original plans, or changing the finish of the floors from tile to terrazzo.
Because of these changes to budget and schedule, change orders are not acted upon until both the owner of the project and the contractor responsible for the change agree on terms and conditions. There are two types of change orders: additive and deductive.
Classic examples of change orders include the owners desire to move the location of a wall to accommodate some other design element, adding a window where there was none in the original plans, or changing the finish of the floors from tile to terrazzo.
Change orders typically consist of three parts: the project information, the changes to the contract, and the change in cost and time for performance. Project information includes the project name and the owners and contractors information.
What are the types of change orders? The four most common types of change orders in construction are: lump sum (when the change can be quantified in price); zero cost (no change in price); time and material (cost cannot be estimated); and unitary cost (a change in scope that can be defined by measurement units).
Because of these changes to budget and schedule, change orders are not acted upon until both the owner of the project and the contractor responsible for the change agree on terms and conditions. There are two types of change orders: additive and deductive.
These are Time and Material, Lump Sum, Zero Cost, and Unitary Cost change orders. Lump Sum. A lump sum change order is used when the defined change in the work scope is quantifiable, and a definite price developed. Zero Cost. This is similar to a lump sum change order. Time and Material (TM) Unitary Cost.
In construction, a change order refers to the documentation of an agreement to add or subtract work, alter the design, revise the schedule, modify the price, or deviate from the original project in some other way.

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