A construction contract must be made before the actual construction work can be carried out, as it mentions the extent of the work to be done by the contractor and the levels of payment that must be released by the owner. Risk factors should be included in the contract to protect the interests of the owner. If you do not read the written agreement, you will not be in a defensive position. The supply of products and services is mentioned in the contract between the owner and the contractor. The rates set in the calendar are based on the base rates for steel and cement which, in the event of an escalation of these base rates, are carried out according to a downward or upward revision of contractually agreed quantities/values. Any escalation of other objects, materials or accounts is not permitted. YES, It is very important to get a construction contract even before the construction of a house, because it clearly mentions the conditions agreed between the two parties such as owners/contractors/work contractors. The agreement between the contractor and the owner`s contract for the construction of a house should mention construction work such as masonry, frame, plumbing, electricity, cementing, etc. This agreement allows the parties to write down the exact nature and details of the work to be carried out, as well as the responsibilities of each party throughout the construction. The terms of payment for the project are also mentioned. In general, there are three different types of price agreements: the amount of security, which represents 3% of the value of the work done and certified by the customer/customer representative.
And published after 3 months of virtual completion of the project The owner should be able to go through the work done by the owner and demand changes according to his needs. The contractor is required to supply the goods and products in accordance with the contract. There should be communication between the owner and the contractor so that the project is carried out without any problems. (9) The contractor works in coordination with other organizations working on the building. It gives them all cooperation and support. The completion date is not extended to this account. The contractor must rectify the damage caused by the building`s electricity, sewerage and water supply work, which must be paid accordingly.