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How do I write a contract for a general contractor?

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.

What is a compensable delay in construction?

A compensable delay is one where theres going to be some compensation involved for the delay to the project. That means that the owner or contractor is liable for a extension of time or cost compensation or both. The cost compensation is to account for damages or extra costs associated with the delay.

What are the three categories of delays?

The main types of schedule delays on a construction project are: Critical vs. Non-Critical. Excusable vs. Inexcusable. Compensable vs. Non-compensable.

How do you create a simple contract?

Heres a look at the basic steps youll need to take to create a simple and effective client contract: Include Contact Information of Both Parties. Specify Project Terms and Scope. Establish Payment Terms. Set the Schedule. Decide What Happens If a Contract Is Terminated. Determine Who Owns Final Copyrights.

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.

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