Contracts have always been important in construction projects as they lay down all the duties and obligations, and rights and liabilities of the parties.
A Construction Contract Agreement is a written document that contains everything that is agreed by the parties ensuring that all participants have a common understanding regarding the precise nature of the work involved and their responsibilities.
All parties to the contracts should ensure that their requirements about important aspects of the project are included in the contract. It’s a useful tool that can save both the client and contractor a lot of time, money, and unnecessary stress.
Understanding both technicalities and the law is important while drafting and managing the contract.
The contract will set out the terms for: