- blog | Building | Construction
A general contractor contract is a legal agreement between a property owner or developer and a general contractor who is responsible for overseeing and managing the construction project. The contract outlines the terms and conditions of the agreement, including the scope of work, project timeline, payment schedule, and other important details.
Here are some common elements that are typically included in a general contractor contract:
- Project Description: A detailed description of the construction project, including the scope of work, project timeline, and specifications.
- Project Plans and Specifications: Copies of the project plans and specifications that the contractor will be expected to follow.
- Payment Terms: A detailed breakdown of the payment terms, including the total contract price, payment schedule, and the conditions for payments.
- Change Orders: A process for handling change orders, including how they will be priced, approved, and documented.
- Insurance and Liability: The contractor’s insurance coverage and the types of liability insurance required.
- Warranties: The types of warranties provided by the contractor and any warranties provided by subcontractors or suppliers.
- Termination: The conditions for terminating the contract, including the grounds for termination and the required notice period.
- Dispute Resolution: A process for resolving disputes that may arise during the project, including the use of mediation or arbitration.
- Safety: A requirement for the contractor to follow all applicable safety regulations and standards.
- Completion Date: The target completion date for the project and the consequences of failing to meet that date.
The general contractor contract is a critical document that outlines the expectations and responsibilities of both the owner and the contractor. It is important to review and understand all of the terms of the contract before signing to ensure that everyone is on the same page and that the project runs smoothly.