A home building contract (also known as a Construction Contract Agreement) is a written document where the terms and conditions, the rights of either party, the amount to be paid, and the commencement and completion dates are carefully outlined. This is agreed upon by both of the homeowner and the contractor.
The contract must contain:
The contract must also be accompanied by the:
Other requirements for contracts to do residential building work:
A fixed price is set for the Lump Sum contract, while an amount is reimbursed by the owner under the Cost Plus contract.
As for Milestone, a payment must be issued for every work completed.
A successful building project is a result of a well-thought-out building contract. Whether it is a home for others or just simply a home for you and your family, you would definitely want to make sure that the place is everything you imagined would be. As thrilling as it may sound, building is one of the things that must be taken seriously. You must get yourself into some serious planning and consultation and make sure that you have your visions laid out well.
Contracts Specialist is a building and construction law firm that can give you legal advice concerning building and construction matters. CS is headed by John Dela Cruz, a Sydney-based lawyer specializing in building and construction for 10 years. He is also the founder and CEO of Small Builders, an Australian building software.
Contracts Specialist have extensive experience in drafting and reviewing a wide range of contracts of our clients – both contractors and homeowners – such as Home Building, Commercial, Lump Sum, and Cost Plus contracts, as well as Subcontract Agreements.
1. We will review and interpret construction contracts for you.
2. We can draft contracts, amendments, and special conditions.
3. We can make sure your legal rights are enforced.
Consult with Contract Specialists so you have peace of mind and can ensure that you can avoid legal issues in the future.