Construction Contracts Hinze Pdf Files
Include financial information.
Construction Contracts Language “B” In the event a vendor is awarded a contract, the vendor is required to submit evidence of compliance with N.J.S.A. 10:5-31 et seq. These forms must be submitted within three (3) working days of notification. All successful Construction contractors must submit the following as evidence: 1. Adobe acrobat 7 professional remove watermark.
Construction Contracts Hinze Pdf Files List
You'll want to state the amount of money the owner or client has agreed to pay you for performing the work. Be sure to include the contract price, non-refundable deposit, schedule of progress payments, final payment, and interest.- For example, state: Subject to additional charges pursuant to any Change Orders (described below), Owner agrees to pay Contractor the sum of $4,000 plus the cost of materials for completing the Work (the “Contract Price”). Upon execution of this Contract, Owner shall pay to Contractor $1000 as an advance on the Contract Price as a non-refundable deposit in the event this Contract is terminated for any other reason than the default by Contractor.
- There are a few main types of construction contracts:[2]
- Lump sum: the construction company gets one large lump payment and covers all expenses.
- Unit price: provides an estimate of cost based on individual aspects of the job.
- Cost plus fixed fee: the construction company gets paid for all project-related costs plus a predetermined, fixed fee, regardless of the length of time required. This often encourages quicker completion.
- Cost plus percentage of cost: the contractor’s costs will be covered and then paid a percentage of all costs. This does not encourage a contractor to keep costs low.
- Special contracts: the parties involved may come up with their own contract terms