Building Contract
BUILDING CONTRACT
This Building Contract serves as the formal agreement between [Your Name] and [Client's Name] regarding the construction project. It establishes the terms and conditions governing the scope of work, payment terms, timeline, responsibilities, and dispute resolution mechanisms. By signing this Contract, both parties commit to fulfilling their obligations, ensuring clarity and certainty throughout the project's duration. Any modifications to the Contract require written agreement from both parties. Disputes will be resolved through mediation and arbitration, as outlined herein, with the governing law and jurisdiction specified. Both parties acknowledge their understanding of and voluntary agreement to be bound by the terms of this Contract.
1. Scope of Work:
The Contractor agrees to provide construction services for the following project:
[Project Name/Description]
The scope of work includes but is not limited to:
-
[List of specific tasks and responsibilities]
-
[Description of materials and labor required]
-
[Timeline for completion]
2. Payment Terms:
The total contract price for the project is [Total Amount] dollars ($[Amount in words]), payable as follows:
-
[Percentage]% of the total contract price as an initial deposit upon signing of the contract.
-
[Percentage]% progress payments at specified milestones during the project.
-
[Percentage]% final payment upon completion and acceptance of the work by the Client.
3. Timeline:
The project commencement date is [Commencement Date], with an estimated completion date of [Completion Date]. The Contractor shall provide regular updates to the Client on the progress of the project.
4. Change Orders:
Any changes to the original scope of work must be approved in writing by both parties. The Client shall be responsible for any additional costs or adjustments to the timeline resulting from approved change orders.
5. Materials and Specifications:
The Contractor shall adhere to the responsibility of utilizing materials and products for the project that properly align with and satisfy all criteria, standards, and configurations expressly mentioned in the overarching project plans. Additionally, there may also be instances where specific materials and products will be jointly decided upon and consented to by both parties involved in the project. In such cases, the Contractor is required to use those mutually agreed-upon resources.
6. Insurance and Liability:
The Contractor shall maintain appropriate insurance coverage for the duration of the project. The Client shall not be held liable for any damages or injuries that occur during the construction process, except in cases of negligence or misconduct by the Client.
7. Permits and Approvals:
The Contractor shall obtain all necessary permits and approvals required for the construction project. Any fees or costs associated with obtaining permits shall be the responsibility of the Contractor.
8. Warranties and Guarantees:
The Contractor warrants that all work performed shall be of good quality and free from defects for a period of [Warranty Period] from the date of completion. Any defects discovered during this period shall be promptly repaired by the Contractor at no additional cost to the Client.
9. Dispute Resolution:
Any disputes arising under this Contract shall be resolved through mediation, with the costs of mediation shared equally by both parties. If mediation is unsuccessful, the dispute shall be resolved through arbitration by the laws of [Jurisdiction].
10. Termination Clause:
Either party may terminate this Contract upon written notice if the other party breaches any material term or condition of the Contract. In the event of termination, the parties shall negotiate in good faith to reach a mutually acceptable resolution.
11. Governing Law:
This Contract shall be governed by and construed following the laws of [Jurisdiction]. Any disputes arising under this Contract shall be subject to the exclusive jurisdiction of the courts of [Jurisdiction].
IN WITNESS WHEREOF, the parties hereto have executed this Building Contract as of the date first above written.
|
[YOUR NAME] [YOUR COMPANY NAME] [DATE] |
[CLIENT'S NAME] [DATE] |
