Construction contracts can be simple or tremendously complex. At Fryer & Hansen, we pride ourselves in having extensive knowledge in construction law, legal disputes and anything that comes with dealing with construction projects. We’ve put together a little how-to when writing your first construction contract. Even the word sounds complicated, but if you do your research and stay prepared, it shouldn’t be too daunting. Follow our four tips below.
What is a Construction Contract?
A construction contract is a very important document that ties two parties who are entering a partnership for a construction project. Why is it necessary? Well, it stipulates who is involved and what is expected of everyone involved. This can be anything from the price of labor, deadlines for the project and other aspects that will ensure that the project gets done.
When everything is in a contract, it ensures that everyone is protected and has agreed to the terms. Should anyone involved in the contract fail to deliver the services they agreed upon, the document serves as a legal binding that will be helpful in court as a security measure. The same should be said if you fail to pay.
Seek a Professional’s Help
In order to avoid the confusion of having to write one yourself, the easiest way to draft a contract is by contacting us. We specialize in construction law and can take all of the information that is important to you to create a draft and document that is tailored to fit your needs.
Keep it Simple
If this is your first time putting a contract together, you’re going to need help to ensure that it’s done right. If you must write one yourself, make sure to do research and find a template that’s easy to understand. You will need to include the general text to make the contract legal and binding, and it’s up to you to fill in the important details. Just keep in mind that you get what you pay for. This is why we recommend calling us to help you take that first step to ensure that your project is protected.
Important things that should be included in a construction contract are project dates and payment amounts. In order for your project to be completed in a timely manner, dates must be included. While changes along the way may affect the deadline, assuming everything stays the same, a contract ensures that all parties will deliver on whatever has been agreed upon.
Also, you will want to hold payments until certain construction deadlines are met. For example, you can be expected to pay a certain amount when a milestone is achieved. Remember not to pay in full until your contract is complete, and make sure to detail payment schedules.
Signing on the Dotted Line
Once everything has been ironed out on the contract, it still needs to be signed into effect. Most of the time, this is done in front of a notary as a witness, and two copies are signed so that both parties have copies.
We Want to Help
Construction contracts are complicated to form, but they don’t have to be when you have a strong team of attorneys familiar with the field on your side. If you have any questions about construction law, then we want to know. Call or visit us today to schedule a consultation that could assist you should a legal dispute arise in the future.