Construction Contract Ebook VERIFIED Free Download
Construction projects can have multiple phases and numerous tasks that are dependent on each other. If a task is not completed on time, it could delay dependent tasks and result in delayed completion of the entire project. Using a construction project timeline template can help create a work breakdown structure, track the progress of your project, allow you to identify risk early, and ensure that the project is completed within the time specified in the contract. In this template you can list all of the tasks necessary to complete the project, as well as track the beginning and completion dates, and estimated duration.
Construction Contract Ebook Free Download
Depending on the type of construction project, a contractor may need to provide their own estimate for work. This simple construction estimator template will help to provide an initial assessment of the labor and costs associated with a project. Use this template to list the work items needed, along with associated costs, and a total estimate at the bottom.
During a construction project it may be necessary to make changes to the original contracted dollar amount or time-to-completion depending on certain changes like site conditions, scope or unforeseen circumstances. This contractor change order request summary template will allow the contractor to provide a description and breakdown of the requested change, and enable you to make an informed decision on whether the change is necessary and who should be responsible for the impact to the overall project budget and timeline.
As construction projects near their completion date, it is important to inspect all the work that was constructed to ensure that it was done per the plans and specifications, and to your standards. This project punchlist template lists and tracks any corrections or updates you would like made, and keeps the contractor and subcontractors on the same page by providing them the complete list. With Smartsheet, the changes are made in real-time so the punchlist is always up to date and can be shared online with multiple subcontractors.
The best way to manage change in construction to ensure clear communication and prevent unnecessary legal action is by issuing change orders to outline requirements for each relevant stakeholder. This blog explores various change order templates that can be used for just that, from a generic change order template, to change order templates specific to fixed price and cost-plus contract types.
Fixed price contracts (otherwise known as lump sum or fixed sum contracts) are a popular construction contract type, whereby the General Contractor completes a project for an Owner at an agreed upon price and bears the bulk of the risk if a project exceeds budget/timeline.
Cost-plus contracts in construction operate quite different. Under a cost-plus contract, the Asset Owner will pay the General Contractor the actual costs paid for labour and materials, as well as an additional fee for the management of the project. This additional fee can be calculated as a percentage of total cost, a set fee, an hourly rate, or some combination of the three.
Regardless of your contract type or your role in the construction process, you need to be ready and willing to accommodate change. Though it can be difficult, change is a necessary evil in the fight to ensure that projects are completed at the highest quality and satisfy all stakeholders involved.
A construction contract template is used by contractors and subcontractors to document the agreement between their companies and project owners. It set forth the legally binding terms and conditions agreed between parties including the scope of work, liabilities, budget costs, construction risks, and payment terms.
A construction contract agreement template is used to specify the agreement clauses that have been enumerated by project owners and contractors. It helps validate the agreement of liabilities and responsibilities of each party to identify accountability in case of an incident. It is used by contractors to keep a record of compensation, contingencies, and additional provisions to avoid conflicts and disagreements.
To ensure smooth transactions between contractors and project owners, a contract agreement for construction work should be validated by both parties. A detailed construction contract agreement would help settle the negotiation. The following are the important details of the contract agreement for construction work.
A contract agreement for construction work should define how the project schedule will be divided according to the total number of working days and the projected deadline to finish the construction. It should vary depending on the manpower, amount of work, and availability of materials. All changes that occur during the construction can be added to the timeline.
A lump sum contract or also known as a stipulated sum contract is the most common contract agreement for construction work. It involves a single payment transaction with a fixed price to build the project within the agreed schedule and scope of work. It is used when the project owner wants to transfer liabilities to the contractor and avoid change orders for unspecified work.
A cost-plus contract is a negotiation that allows the project owner to pay for all the costs associated with the construction project including materials and labor costs with the additional agreed-upon fee for the contractors. It is usually used when the scope of the construction project is not clearly defined.
The unit price contract is based on estimated quantities of items and their unit prices. The cost is based on the agreed price for every unit of work including the number of working hours and the type of construction materials.
The possibility of losing a paper-based construction contract agreement can be burdensome for contractors and project owners. It can put the business at risk and create misunderstandings and process errors. Drafting construction contract forms on your own can also sometimes be time-consuming and prone to mistakes
A subcontractor construction contract agreement is a binding negotiation between the contractors and subcontractors. This covers the covenant and conditions of both parties including the scope of work, payment terms, timeline of completion, and cleaning up. This contract is validated through digital signatures.
This template can be used by contract managers to document any modifications to the original plans of project construction. Use this document as a supporting record to initial construction agreements such as construction contracts, Scope of Work (SOW), and general conditions, among others. With this template, you can:
In July 2008 the Board issued IFRIC 15 Agreements for the Construction of Real Estate. The Interpretation was developed by the Interpretations Committee to apply to the accounting for revenue and associated expenses by entities that undertake the construction of real estate directly or through subcontractors.
NEW! EJCDC has released the 2023 Construction Manager at Risk Series. The comprehensive new series consists of 27 documents, including contracts, bonds, contractor-procurement documents, and administrative forms, intended for use on projects in which the owner retains a construction manager at risk (CMAR) to provide preconstruction services and then construct the project. Press release (coming soon).
Each EJCDC Contract Document is systematically prepared, reviewed and analyzed by committees of experienced engineering design and construction professionals, owners, contractors, professional liability and risk management experts, with the participation and advice of legal counsel. For nearly 50 years, EJCDC has been developing and endorsing quality contract documents and encouraging their use through education and promotion.
EJCDC has existed since 1975 to develop and update fair and objective standard documents that represent the latest and best thinking in contractual relations between all parties involved in engineering design and construction projects. EJCDC represents a major portion of the professional groups engaged in the practice of providing engineering and construction services for engineer-led constructed projects, and includes the participation of more than 15 other professional engineering design, construction, owner, legal, and risk management organizations.
EJCDC encourages the use of its standard contract documents for the benefit of all parties involved in engineering design and construction projects. Any change or modification to the language of a document should be reviewed by legal counsel before using. Users should also be aware that a change in one document may affect related documents and should be coordinated in order to avoid confusing or conflicting language.
This template includes all of the information necessary to prepare a comprehensive construction bid. You can print it and fill it out by hand or download a copy of the document via Microsoft Word or Google Docs and customize it according to your individual needs.