Agreement between owner and contractor form — Smart Business Box

What is Agreement Between Owner And Contractor?

A construction agreement is an agreement between a builder or owner of a project and the vendor or contractor. The agreement is carried out to define the scope of the projects, the possible timelines, the monetary specifications and the default guidelines.

A construction agreement can be very detailed including clauses and sub-clauses based on the terms and regulations of service.

Also Read: Agreement Between Carrier And Shipper

A Construction agreement lists most of the following parameters-

• Commencement of work

• Owners right of inspection

• Payment terms

• Accounts of inspection

• Extension of time

• Arbitration

• Time for completion

• Project description, contract price, construction schedule, contract laws.