New Jersey Contract for Construction of Building with Contractor to Furnish all Materials and Perform all Work as Required by Enumerated Contract Documents

• Category: Construction - Contractors
• State: Multi-State
• Control #: US-13202BG
• Format: Word; Rich Text

Description

This form is a contract for the construction of a building with Contractor agreeing to furnish all materials and to perform all work as required by contracts enumerated in the contract for construction. The New Jersey Contract for Construction of Building is a legally binding agreement between the owner (typically the property owner or developer) and the contractor, outlining the terms and conditions for the construction of a building. This contract necessitates the contractor to provide all necessary materials and complete all aspects of the construction work as specified in the enumerated contract documents. These contract documents, which are attached to the agreement, define the scope of the project, establish the timeline, and outline specific requirements, specifications, and drawings. In New Jersey, there are different variations of the Contract for Construction of Building with Contractor to Furnish all Materials and Perform all Work as Required by Enumerated Contract Documents. These may include: 1. Lump Sum Contract: This type of contract sets a fixed price for the entire construction project, where the contractor agrees to complete the work as specified in the contract documents for the agreed-upon sum. Any changes or modifications requested by the owner during the course of the project might lead to additional costs. 2. Cost Plus Contract: In this contract, the owner agrees to reimburse the contractor for the actual costs incurred during construction, such as labor, materials, and subcontractor fees. Additionally, the contractor may charge a percentage fee for overhead and profit. This type of contract provides more flexibility but can lead to uncertain final costs. 3. Unit Price Contract: In a unit price contract, the contractor is paid based on the quantities of specific items of work completed at predetermined unit prices mentioned in the contract documents. This type of contract allows for more accurate cost estimation and payment calculation for distinct project components. Regardless of the contract type, the New Jersey Contract for Construction of Building serves as a comprehensive document that ensures both parties' interests are safeguarded. It clarifies the responsibilities of the contractor and owner, establishes payment terms, provides procedures for addressing changes or disputes, and outlines the procedure for project completion and closeout. It is essential for both parties to carefully review and understand the terms of the contract before commencing any construction work.

The New Jersey Contract for Construction of Building is a legally binding agreement between the owner (typically the property owner or developer) and the contractor, outlining the terms and conditions for the construction of a building. This contract necessitates the contractor to provide all necessary materials and complete all aspects of the construction work as specified in the enumerated contract documents. These contract documents, which are attached to the agreement, define the scope of the project, establish the timeline, and outline specific requirements, specifications, and drawings. In New Jersey, there are different variations of the Contract for Construction of Building with Contractor to Furnish all Materials and Perform all Work as Required by Enumerated Contract Documents. These may include: 1. Lump Sum Contract: This type of contract sets a fixed price for the entire construction project, where the contractor agrees to complete the work as specified in the contract documents for the agreed-upon sum. Any changes or modifications requested by the owner during the course of the project might lead to additional costs. 2. Cost Plus Contract: In this contract, the owner agrees to reimburse the contractor for the actual costs incurred during construction, such as labor, materials, and subcontractor fees. Additionally, the contractor may charge a percentage fee for overhead and profit. This type of contract provides more flexibility but can lead to uncertain final costs. 3. Unit Price Contract: In a unit price contract, the contractor is paid based on the quantities of specific items of work completed at predetermined unit prices mentioned in the contract documents. This type of contract allows for more accurate cost estimation and payment calculation for distinct project components. Regardless of the contract type, the New Jersey Contract for Construction of Building serves as a comprehensive document that ensures both parties' interests are safeguarded. It clarifies the responsibilities of the contractor and owner, establishes payment terms, provides procedures for addressing changes or disputes, and outlines the procedure for project completion and closeout. It is essential for both parties to carefully review and understand the terms of the contract before commencing any construction work.