Builders Contract
BUILDERS CONTRACT
This Builders Contract ("Contract") is made effective as of [Date], by and between [Your Company Name], hereinafter referred to as "Builder," and [Owner's Name], hereinafter referred to as "Owner." The Builder and Owner may collectively be referred to as the "Parties."
I. Project and Site Information
1.1 Project Description:
The Builder agrees to construct a residential property, as per the plans and specifications provided, located at [Project Address], hereinafter referred to as the "Project."
1.2 Site Description:
The construction will take place on a lot or parcel of land identified by [legal description or parcel number], hereinafter referred to as the "Site."
II. Scope of Work
2.1 Work to be Performed:
The Builder shall furnish all labor, materials, machinery, tools, equipment, and services necessary for the construction and completion of the residential property described in Exhibit A attached hereto.
2.2 Modifications:
Any changes to the scope of work must be made in writing and signed by both Parties, under the change order procedure outlined in Section VII.
III. Project Schedule
3.1 Start Date:
The work on the Project will commence on [Start Date].
3.2 Completion Date:
The Builder agrees to substantially complete the Project by [Completion Date], subject to reasonable delays as provided herein.
IV. Payment
4.1 Contract Price:
The total contract price for the Project is [Total Contract Price] payable as follows:
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Down Payment: [Down Payment Amount], due upon execution of this Contract.
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Progress Payments: As described in Exhibit B, based on milestones or stages of completion.
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Final Payment: The balance remaining, payable upon substantial completion of the Project.
4.2 Payment Schedule:
Payments shall be made according to the schedule outlined in Exhibit B, attached hereto and incorporated by reference.
V. Standards of Workmanship
Quality Standards: The Builder shall perform all work in a workmanlike manner according to standard practices in the industry and in compliance with all applicable codes and regulations.
VI. Warranties and Guarantees
Builder’s Warranty: The Builder warrants that all materials and workmanship shall be of good quality and free from defects for a period of [Warranty Period] from the date of completion.
VII. Change Orders
Procedure for Changes: Any changes to the scope of work, including any increase or decrease in the contract price, must be documented in a written Change Order, signed by both Parties.
VIII. Dispute Resolution
Mediation and Arbitration: In the event of a dispute, the Parties agree to first seek resolution through mediation. If mediation is unsuccessful, disputes will be resolved by binding arbitration.
IX. Termination
Termination for Cause: Either Party may terminate this Contract for a material breach by the other, subject to written notice and the opportunity to cure such breach.
X. Miscellaneous Provisions
10.1 Governing Law:
This Contract shall be governed by the laws of [State/Country].
10.2 Entire Agreement:
This Contract, including all Exhibits attached hereto, constitutes the entire agreement between the Parties and supersedes all prior negotiations, agreements, and understandings regarding the Project.
IN WITNESS WHEREOF, the Parties have executed this Contract as of the Effective Date.
Builder: [Your Company Name]
Date: [Date]
Owner: [Owner's Name]
Date: [Date]
Exhibits:
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Exhibit A: Plans and Specifications
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Exhibit B: Payment Schedule
