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Foundation Contract for Contractor - Arkansas 2025

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The document is a Foundation Contract between a Contractor and an Owner, outlining the scope of work, responsibilities, payment terms, completion timeline, and conditions regarding permits, soil conditions, insurance, changes to the project scope, and warranties. It emphasizes the Contractor's obligations for construction tasks related to foundation work and specifies the Owner's rights and responsibilities regarding payments and potential liens on the property.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Do contractors have to be licensed in Arkansas?

Commercial License: A commercial license is needed if a contractor performs work of $50,000 or more, including, but not limited to, labor and materials, on a commercial project. Any project that is not a single-family residence is a commercial project.

What is the contract law in Arkansas?

The essential elements of a contract under Arkansas law include (1) competent parties, (2) subject matter, (3) legal consideration, (4) mutual agreement, and (5) mutual obligations. Daimler-Chrysler Corp. v. Smelser, 375 Ark.

How much is a contractor license in Arkansas?

How Much Does It Cost to Get a Contractor License in Arkansas? The filing fee for both the Commercial and Residential Builder license is $100. The filing fee for the Residential Remodeler and Home Improvement license is $50. The cost of the licensing exam is $84.

Can I sue an unlicensed contractor in Arkansas?

The penalty for working without a contractors license in the state of Arkansas is a fine between $100 and $200 per unlicensed work day. It is a misdemeanor that can further open up a construction firm to a lawsuit from a disgruntled property owner.

What is a foundation contract?

Foundation agreement is necessary for the creation of company and is considered to be the main document for the formation of legal entity, drawn up in writing. From the legal standpoint, such a contract entails mandatory fulfillment of obligations and existence of founders rights.

How do I become an independent contractor in Arkansas?

The requirements are: Complete the application via the application page. Submit a $100 check made out to the Contractors Licensing Board. Supply three non-supplier or banker references on forms provided in the application. Take and pass the Arkansas Business and Law test and provide a copy of the score.

What is the best contract for contractors?

5 Common Types of Construction Contracts Lump Sum Contracts. For projects with a well-defined scope of work, lump sum contracts (also called fixed price contracts) are straightforward. Guaranteed Maximum Price Contracts. Cost-Plus Contracts. Time and Materials Contracts. Unit Price Contracts.

Foundation Contract for Contractor - Arkansas 2025

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