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Written by Tracy
Contractors - Part III
In Construction, Repair, & Improvement - more than a month ago

Contract Options

   Your contract should be arranged to include the standard articles between the contractor and the consumer with a detailed description of the work to be performed, a budget and some details about product quality being installed.

A good contract should include the following elements or articles;

(1.) Names and locations of the contractor and home owner and address of the project.

(2.) Dates signifying commencement and completion times (excepting building material availability, delays due to strike, acts of god or delays beyond the diligent efforts of the contractor). The owner should ask for a 'penalty' clause in the event that the contractor does not complete the project within a reasonable period, say within 5 - 10 days after the completion date.

(3.) A description of the work to be performed should be mentioned and attached with a labeled drawing.

(4.) A budget based on a range of type, quality and price of building materials to be installed.

(5.) Article defining who is responsible for trash and building material debris removal, cost of a dumpster.

(6.) An article relating to contractor/owner disputes and Conflict Resolution including the cost of arbitration services. (usually about $98.00 per hour, divided equally between the parties)

(7.) Incremental payment schedule, including advance payment for materials (...no more than 25%), with increments of about 25% at half completion, three quarters and balance upon completion.

Don't make the last payment or sign a job release until the unfinished details are complete to your satisfaction. And be advised that some contractors will have the customer sign a property attachment or lean in the contractand that there should be a Lean Release signed by the contractor upon final payment.

   
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