Selecting an Online Construction Contract Template
Contracts are an essential part of the construction industry. Since construction is an index of any nation’s progress, it is necessary that every citizen must be equipped with knowledge of at least the basics of construction contracts.
A construction contract can be termed as an agreement entered into by two parties, under the terms of which one party agrees to perform a specific job, in this case a construction job, for which the other party agrees to pay. Construction contracts come with additional terms and conditions which form an integral part of the entire contract.
If you’re looking to make your work life easier with construction project, Online Construction Contract Template is the solution you need.Using legal document creator for construction Template can help to eliminate time wasters and potential obstacles to getting the job done right and on time. Online Construction Contract management can:
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Cut down on face-to-face meeting times that can be less than efficient
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Reduce travel time to and from the work site or office
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Reduce the amount of paperwork-faxing, emails, and copies-that must be delivered individually
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Reduce the incidence of key players being left out of the loop on important decisions
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Provide an accurate and reliable history of receipts, work orders, contracts and change orders
For a construction contract to be deemed competent, both the parties must be legally capable of playing their part in right earnest. Another important aspect of construction contracts is to clearly define the subject matter of the contract, while entering into the agreement. A construction contract should have a proper proposal from one party and its unqualified acceptance by the other party.
Whenever a party fails to perform its duties according to the interpretations of the same in the contract, they are said to have breached the contract. However, not every failure can be termed a breach legally, as parties can always find an excuse for not performing a specific job assigned to them under the agreement.
Any time you sign a contract with your customer, you are entering into a legally binding obligation. While you might think that this applies only to making sure that you do the job you have been hired to do, it does much more. The negotiated contract also protects you from your customer. For example, you contracted to build a new room on the back of your customer’s house that is twelve feet long and ten feet wide. Once it is finished the customer refuses to pay stating he ordered a room that was 15 feet by ten feet, as long as you have it in a written contract the courts will order him to pay your bill.
Construction contracts can be terminated due to many reasons. The entire construction process may have been over to the complete satisfaction of both parties, for example. Or there could have been a breach of contract by one party, citing which the other party could be released from the contractual obligations. Both the parties can even mutually agree to terminate the contract. Sometimes unforeseen circumstances, beyond the control of either party, can lead to the termination of the contract. There are several types of construction contracts, which could be entered into by parties like lump sum contract, unit piece contract, percentage rate contract or target cost contract, to mention only a few. One can get extensive information on construction contracts by visiting our Online document creator dedicated to the subject.
