11. If the owner decides to provide the necessary building materials, he is credited with the cost of these materials and the value is deducted from the current invoice immediately below. For some types of construction projects, you may need administrative approvals in addition to the work contract before contractors can start working. NOTE: This is just a draft contract in which we have considered a model project to analyze the costs and terms of payment. Amount of lump: Also known as the traditional “fixed price” contract, this is the most common price for construction contracts. In a lump sum contract, the parties agree on a fixed price based on the contractor estimating the costs of a complete and final project. Lump-sum contracts take into account all materials, subcontracting, work, indirect costs, profits and more. 3. For the purposes of this contract, “built surface” means the entire covered area of the building at ground level and the measurement of the wall surface (excluding architectural projection) and must include stairs and balconies. There should be no conflict in the payment method. The method of payment can be made in cash, cheques or electronic transfers in accordance with the reciprocal agreement. The law of the land should be respected so that there are no problems. You can cancel the payment at the end of the month.
If you are unable to pay large bills at a time, you can negotiate with the contractor to have the bill paid in increments. The frequency of payments and the volume of payments need to be clarified. The owner provides a temporary electrical connection, all taxes on electricity and water during construction are borne by the owner. 16. If, in the architect`s opinion, the work carried out by the contractor is unsatisfactory or if progress is slow or if it is likely that the contractor will not be able to complete the work on time, the owner has the right to announce the contract at the risk of the contractor by having 15 days if he has the right to award the contract to the agencies. the costs it deems appropriate and the costs incurred in that account and certified by the architect are deducted from the money owed by the holder or recovered by the contractor. Benjamin Franklin said, “Time is money.” Whichever page you`re on, reduce construction time by having a clear plan with this document. The terms of the agreement between the owner and the contractor include work to be worked, construction time, payment plans, escalating costs, delays, penalties, construction materials used, etc.