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How to Save Construction Contract Agreement in PPR

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Contract management is essential in construction, ensuring objectives are met from initiation to completion. It involves various types of contracts, with construction contracts being notably complex. Basic contract documents that every construction contract should include are: 1. **Contract Agreement** – outlines the roles and responsibilities of the client and contractor. 2. **Scope of Work Definition** – details the project and its deliverables. Additional documents typically include project specifications, drawings, schedules, terms and conditions, payment requests, change order forms, and warranty provisions. These elements collectively define the terms of the contract and guide the project's execution.

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What are the 4 types of contracts?

Types of Contracts: Learn About the 13 Main Options Fixed-Price Contract. Cost-Reimbursement Contract. Cost-Plus Contract. Time and Materials Contract. Unit Price Contract. Bilateral Contract. Unilateral Contract. Implied Contract.

What are the 5 essential elements of a construction contract?

5 Key Elements Every Construction Contract Should Contain 1) The projects scope. 2) The cost and payment terms. 3) The projects time frame. 4) Protection against lien law. 5) Dispute resolution clauses.

What is the most common construction contract type?

Lump-Sum contracts are the most frequently-used contract, particularly for building construction. The idea is that all aspects of the project are pre-determined and laid out in a fixed scope of work. The cost is known and upfront for the owner, and the contractor is able to manage expectations.

What are the four basic types of construction contracts?

4 Types of Construction Contracts Lump-Sum Contracts. Cost-Plus-Fee Contracts. Guaranteed Maximum Price Contracts. Unit-Price Contracts.

What are the three types of construction contracts?

Three Common Construction Contracts FIXED PRICE. Fixed price construction contracts, also commonly referred to as lump sum or stipulated sum contracts, are the most common types of construction contracts. COST PLUS. GUARANTEED MAXIMUM PRICE.

What are the 3 types of contracts?

Generally youll come across one of three types of contract on a project: fixed price, cost-reimbursable (also called costs-plus) or time and materials.

What are the 3 elements of a construction contract?

5 Key Elements Every Construction Contract Should Contain 1) The projects scope. 2) The cost and payment terms. 3) The projects time frame. 4) Protection against lien law. 5) Dispute resolution clauses.

What is the order of precedence for construction documents?

52.215-8 Order of Precedence-Uniform Contract Format. (a) The Schedule (excluding the specifications). (b) Representations and other instructions. (c) Contract clauses. (d) Other documents, exhibits, and attachments. (e) The specifications.

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Save Construction Contract Agreement in PPR