Bynum Builds


  • No categories

Sample General Contractor Agreement

Posted by Josh On April - 12 - 2021

For some types of construction projects, you may need administrative approvals in addition to the work contract before contractors can start working. EXHIBIT A DRAWINGS AND SPECIFICATIONS (join the agreement) The owner wishes to hire the contractor as a general contractor to carry out certain work (as defined below) on the land for the owner, in accordance with the drawings and specifications contained in Schedule A. Most contractors are in the process of hiring subcontractors to help them reorganize projects, so it`s very likely that you will too. You may have heard horror stories about subcontractors who later seek landlords to pay if the general contractor does not pay them. Owners can protect themselves from construction delays with a compensation clause liquidated in their contract. Damage liquidated is a determined amount per day that the contractor pays to the owner for each day the construction is delayed. Instead of suing the court for damages, the owner and contractor may agree in advance for an amount of liquidated damages. Hiring subcontractors may be common in the construction industry, but before borrowing, you should deal with subcontractor taxes, insurance and contract clauses so that you can do the job without unnecessary financial risk. A general contractor must be registered with the state if it is to accept work for residential and commercial projects. Use the links below to verify that the person has the right to practice in the state: that doesn`t mean you can`t protect yourself. There are a number of methods that you can use to ensure that subcontractors can only use your general contractor, not you, for compensation they may owe. Details on the insurance of the contractor Know whether the contractor is in support of liability insurance and, if so, which company and for how much.

A serious contractor will not hesitate to sign a general business agreement with the owners of the house, which the contractor will transform. If the person you want to hire to act as a general contractor for your home renovation project is resistant to signing an agreement, it`s certainly time to start looking for another general contractor.

Posted by | View Post | View Group

© 2013 | login