A Lima Arizona Contract for Construction of Building is a legal agreement between a contractor and a client to construct a building or infrastructure project in Lima, Arizona. This contract encompasses all the necessary details and requirements, ensuring that the contractor will provide all the materials and perform all the work as specified in the enumerated contract documents. The contract includes various types, depending on the specifics of the project and parties involved. Some common types of Lima Arizona Contract for Construction of Building with Contractor to Furnish all Materials and Perform all Work as Required by Enumerated Contract Documents are: 1. Lump Sum Contract: Also known as a fixed-price contract, this agreement sets a predetermined price for the entire project. The contractor agrees to complete the construction based on the specified plans, documents, and scope of work within the agreed-upon sum. 2. Cost-Plus Contract: This contract type involves the reimbursement of project costs incurred by the contractor, along with an additional agreed-upon fee or percentage of the total cost. It provides transparency for both parties, as all expenses and receipts are filed and shared with the client. 3. Unit Price Contract: Under this contract, the contractor is paid based on unit prices for specific components or activities of the construction project. Each unit price is determined in advance, and the final payment depends on the quantity of work completed. 4. Guaranteed Maximum Price (GMP) Contract: This type of contract sets a maximum price that the client is liable to pay the contractor. If the project costs exceed the agreed-upon price, the contractor bears the additional expenses. However, any savings in costs below the maximum price agreed upon are passed on to the client. 5. Design-Build Contract: In a design-build contract, the contractor is responsible for both the design and construction aspects of the project. This integrated approach allows for a single point of contact, streamlining the process and potentially reducing costs. Regardless of the specific type of Lima Arizona Contract for Construction of Building, it is crucial to carefully review and understand the contract documents, ensuring that all parties are in agreement regarding the scope, timeline, payment terms, warranties, and any other pertinent specifications. Seeking legal advice before entering into such a contract is highly recommended protecting both the contractor and the client's rights and interests.
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.