New Mexico Subcontrato para la construcción de una parte o los materiales que se incorporarán al edificio con disposiciones que, al finalizar por causa, el contratista puede completar el trabajo y retener todos los montos adeudados al subcontratista - Subcontract for Construction of Portion of or Materials to go into Building with Provisions that upon Termination for Cause Contractor May Complete Work and Retain all Amounts due Subcontractor

• Category: Contratistas de Construcción - Subcontratistas - Alaska
• State: Multi-State
• Control #: US-13277BG
• Format: Word

Description

A subcontractor performs work under a contract with a general contractor, rather than the employer who hired the general contractor. Title: New Mexico Subcontract for Construction: Termination for Cause and Retention of Amounts Due Introduction: The New Mexico Subcontract for Construction of Portion of or Materials to go into Building with Provisions that upon Termination for Cause Contractor May Complete Work and Retain all Amounts due Subcontractor establishes the terms and conditions between a contractor and subcontractor in the event of termination for cause. This detailed description will cover the essential elements of this subcontract, including its provisions, termination for cause, completion of work by the contractor, and retention of amounts due to the subcontractor. Provisions of the New Mexico Subcontract: The New Mexico Subcontract for Construction of Portion of or Materials to go into Building with Provisions that upon Termination for Cause Contractor May Complete Work and Retain all Amounts due Subcontractor includes specific provisions that outline the responsibilities and obligations of both the contractor and subcontractor. These provisions include, but are not limited to: 1. Scope of work: Clearly defining the specific portion of the project or materials to be provided by the subcontractor. 2. Payment terms: Stating the agreed-upon payment schedule, including the retention of a certain percentage of the subcontractor's payment until project completion. 3. Project timeline: Establishing project milestones and deadlines for the completion of the subcontractor's work. 4. Materials and quality control: Specifying the types and standards of materials to be used, as well as any quality control measures to be followed. Termination for Cause: In the event that the subcontractor breaches any of the stipulated provisions or fails to perform its obligations, the contractor reserves the right to terminate the subcontract for cause. Termination for cause may include situations such as failure to meet project deadlines, using substandard materials, or providing inadequate work. The termination for cause clause protects the interests of the contractor and ensures adherence to project specifications, timelines, and quality standards. Completion of Work by the Contractor: Upon termination for cause, the subcontractor forfeits their right to complete the work. Instead, the contractor assumes the responsibility to complete the remaining work or procure substitute subcontractors if necessary. The contractor must complete the work within a reasonable timeframe, as defined by the original project schedule, ensuring a smooth continuation of construction activities and minimizing any delays or disruptions. Retention of Amounts Due to Subcontractor: In cases of termination for cause, the subcontractor forfeits any balance due, and the contractor retains all funds previously owed to the subcontractor. This retention serves as a safeguard against potential losses suffered by the contractor due to the subcontractor's breach of contractual obligations. The retained amounts may be used to cover the additional costs of completing the work or any other damages incurred. Types of New Mexico Subcontract for Construction with Termination for Cause: While the specific types of New Mexico subcontracts for construction may vary depending on the nature of the project, the use of termination for cause clauses and the retention of amounts due to subcontractors is a standard practice across various construction subcontract agreements. Examples of these subcontracts may include electrical subcontract, plumbing subcontract, HVAC subcontract, or concrete subcontract, among others. The tailored terms and provisions within each subcontract would outline the distinct scope of work, materials, and timelines relevant to the specific trade involved. Conclusion: The New Mexico Subcontract for Construction provides essential protections for both the contractor and subcontractor in cases of termination for cause. By clearly outlining provisions, termination terms, completion of work by the contractor, and retention of amounts due to the subcontractor, this agreement ensures a fair resolution when contractual obligations are breached. It is crucial for all parties involved to understand and adhere to these agreements to maintain efficient and successful construction projects within New Mexico.

Title: New Mexico Subcontract for Construction: Termination for Cause and Retention of Amounts Due Introduction: The New Mexico Subcontract for Construction of Portion of or Materials to go into Building with Provisions that upon Termination for Cause Contractor May Complete Work and Retain all Amounts due Subcontractor establishes the terms and conditions between a contractor and subcontractor in the event of termination for cause. This detailed description will cover the essential elements of this subcontract, including its provisions, termination for cause, completion of work by the contractor, and retention of amounts due to the subcontractor. Provisions of the New Mexico Subcontract: The New Mexico Subcontract for Construction of Portion of or Materials to go into Building with Provisions that upon Termination for Cause Contractor May Complete Work and Retain all Amounts due Subcontractor includes specific provisions that outline the responsibilities and obligations of both the contractor and subcontractor. These provisions include, but are not limited to: 1. Scope of work: Clearly defining the specific portion of the project or materials to be provided by the subcontractor. 2. Payment terms: Stating the agreed-upon payment schedule, including the retention of a certain percentage of the subcontractor's payment until project completion. 3. Project timeline: Establishing project milestones and deadlines for the completion of the subcontractor's work. 4. Materials and quality control: Specifying the types and standards of materials to be used, as well as any quality control measures to be followed. Termination for Cause: In the event that the subcontractor breaches any of the stipulated provisions or fails to perform its obligations, the contractor reserves the right to terminate the subcontract for cause. Termination for cause may include situations such as failure to meet project deadlines, using substandard materials, or providing inadequate work. The termination for cause clause protects the interests of the contractor and ensures adherence to project specifications, timelines, and quality standards. Completion of Work by the Contractor: Upon termination for cause, the subcontractor forfeits their right to complete the work. Instead, the contractor assumes the responsibility to complete the remaining work or procure substitute subcontractors if necessary. The contractor must complete the work within a reasonable timeframe, as defined by the original project schedule, ensuring a smooth continuation of construction activities and minimizing any delays or disruptions. Retention of Amounts Due to Subcontractor: In cases of termination for cause, the subcontractor forfeits any balance due, and the contractor retains all funds previously owed to the subcontractor. This retention serves as a safeguard against potential losses suffered by the contractor due to the subcontractor's breach of contractual obligations. The retained amounts may be used to cover the additional costs of completing the work or any other damages incurred. Types of New Mexico Subcontract for Construction with Termination for Cause: While the specific types of New Mexico subcontracts for construction may vary depending on the nature of the project, the use of termination for cause clauses and the retention of amounts due to subcontractors is a standard practice across various construction subcontract agreements. Examples of these subcontracts may include electrical subcontract, plumbing subcontract, HVAC subcontract, or concrete subcontract, among others. The tailored terms and provisions within each subcontract would outline the distinct scope of work, materials, and timelines relevant to the specific trade involved. Conclusion: The New Mexico Subcontract for Construction provides essential protections for both the contractor and subcontractor in cases of termination for cause. By clearly outlining provisions, termination terms, completion of work by the contractor, and retention of amounts due to the subcontractor, this agreement ensures a fair resolution when contractual obligations are breached. It is crucial for all parties involved to understand and adhere to these agreements to maintain efficient and successful construction projects within New Mexico.

Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.