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While each project is different, here are some key clauses construction law experts typically recommend including in a construction contract. Price Sum. Payment Terms. Change Orders. Claims. Resolutions. Termination. Insurance.
Contracts Required to be in Writing: At a Glance Real estate sales; Agreements to pay someone elses debts; Contracts that take longer than one year to complete; Real estate leases for longer than one year; Contracts for over a certain amount of money (depending on the state);
The 9 essential contract documents The Construction Agreement. The agreement is the most fundamental document in a construction contract bundle. General Conditions. Special Conditions. Scope of Work. Drawings. Specifications. Bill of Quantities. Construction Schedule.
The 5 elements of a legally binding contract are made up of: An offer. Acceptance, Consideration. Mutuality of obligation. Competency and capacity.
The 5 elements of a legally binding contract are made up of: An offer. Acceptance, Consideration. Mutuality of obligation. Competency and capacity.
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A legal contract must have a lawful purpose, mutual agreement, consideration, competent parties, and genuine assent to be enforceable.
Some common kinds of construction documents include: Bidding documents. Architectural drawings. Schedules. Work orders. Safety reports. Certificates of insurance. Subcontractor applications.
The eight types of construction contracts include: cost-plus construction contract. design and build contract. guaranteed maximum price contract. incentive construction contract. integrated project delivery contract. lump-sum contract. time and materials contract. unit price contract.
Elements of a Construction Contract Name of contractor and contact information. Name of homeowner and contact information. Describe property in legal terms. List attachments to the contract. The cost. Failure of homeowner to obtain financing. Description of the work and the completion date. Right to stop the project.
Contract Documents means collectively the Tender Documents, Designs, Drawings, Specification, Schedule of Quantities and Rates, Letter of Acceptance and agreed variations if any, and such other documents constituting the tender and acceptance thereof.

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