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Glossary Residential Construction / Term

Construction Contract

A legal document which specifies the what-when-where-how-how much and by whom in a construction project. A good construction contract will include:

1. The contractors registration number.
2. A statement of work quality such as 'Standard Practices of the Trades' or 'according to Manufacturers Specifications'.
3. A set of Blue Prints or Plans.
4. A construction timetable including starting and completion dates.
5. A set of Specifications.
6. A Fixed Price for the work, or a Time and Materials formula.
7. A Payment Schedule.
8. Any Allowances.
9. A clause which outlines how any disputes will be resolved.
10. A written Warrantee.

Permanent link Construction Contract - Creation date 2021-03-05


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