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construction contract
(redirected from contract for construction)

    Also found in: Encyclopedia 0.01 sec.
construction contract

A contract for construction services. A good one should contain the following information:
• The names of the parties
• The contractor's registration number
• Ageneral description of the work to be performed
• Astatement of the quality, such as “standard practices of the trades”
• Aset of blueprints and engineering plans
• Aset of specifications
• Adescription of responsibilities for oversight and management
• Atimetable
• Afixed price for the work or a formula such as time and materials
• Definitions of terms, such as “time to exclude/include commuting time”
• The process for pricing and approving change orders
• Payment schedules
• The process to be used for dispute resolution
• Remedies in the event of default
• The terms of any warranties
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