Construction Contracts Types

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What is construction contracts types?

When it comes to construction projects, there are various types of contracts that govern the relationship between parties involved. These contracts outline the rights, obligations, and responsibilities of each party, ensuring a smooth and legally binding agreement.

What are the types of construction contracts types?

There are several types of construction contracts, including:

Lump Sum or Fixed Price Contracts: These contracts involve a fixed price for the entire project, providing certainty for both parties.

Cost Plus Contracts: In this type of contract, the contractor is paid for the actual costs incurred during the project, plus a pre-negotiated fee.

Time and Materials Contracts: These contracts involve paying the contractor for the actual time and materials used, with a predetermined hourly rate and a markup for materials.

Unit Price Contracts: Here, the contractor is paid based on a pre-determined unit price, such as per square foot or per unit of work completed.

How to complete construction contracts types

Completing construction contracts requires careful attention to detail and adherence to legal requirements. Here are some steps to follow:

Read the contract thoroughly and understand all the terms and conditions.

Negotiate any necessary changes or clarifications with the other party.

Ensure all necessary documents and attachments are included, such as drawings, specifications, and schedules.

Review and double-check the contract for accuracy and compliance.

Sign the contract after both parties have agreed to the terms and conditions.

Keep a copy of the signed contract for your records.

By using pdfFiller, you can streamline the process of completing construction contracts. With unlimited fillable templates and powerful editing tools, pdfFiller empowers users to create, edit, and share documents online. It is the only PDF editor you need to efficiently get your construction contracts done.

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