This state specific form addresses issues for subcontract work including: identifying the parties, identifying the jobsite, describing the work, scheduling the work, payment amount, payment schedule, change orders, contractor’s delay in commencing work, late payments, dispute resolution, excusable delay, concealed conditions, insurance, and contract interpretation.
Oklahoma Subcontractor's Agreement
State:
Oklahoma
Control #:
OK-00481-CPK
Format:
Word
Instant download
Description
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FAQ
Verbal agreements and oral contracts are generally valid and legally binding as long as they are reasonable, equitable, conscionable, and made in good faith.Contracts that are clearly written and executed are easier to present as evidence in court than the testimony of the contractual parties.
Licensing. Scope of Work and Payment. Timing. Defense and Indemnification.
In Oklahoma, oral contracts are enforceable unless a specific statute requires the deal to be in writing.For example, contracts for the sale of real estate, or the lease of real estate for more than a year, must be written to be enforceable.
When two or more parties come to an agreement without any written documentation, they create a verbal agreement (known formally as an oral contract).Most verbal contracts are legally binding.
Start with procurement standards. Execute all subcontracts prior to starting your projects. Help those who help you. Award the job to the lowest fully qualified bidder. Use contract scope checklists. Make sure you have tight clauses. Meet to review the proposed subcontract.
In Oklahoma, oral contracts are enforceable unless a specific statute requires the deal to be in writing.For example, contracts for the sale of real estate, or the lease of real estate for more than a year, must be written to be enforceable.
Subcontractor agreements outline the responsibilities of each party, to ensure that if a claim were to arise, the responsible party is accountable. A subcontractor agreement provides protection to the company that hired the vendor or subcontractor by transferring the risk back to the party performing the work.
There are four basic elements to a legally binding verbal or written contract: Offer: An offer must be made by one person. Acceptance: The terms of the offer must be accepted by the other party.Consideration: The agreement must involve an exchange of consideration, or something valuable, between the parties.
A subcontractor will carry out duties on behalf of a contractor - who is responsible for their health, safety, and actions - and might be an individual or an organisation. However, the employees of a contractor are not considered subcontractors, they must be separate altogether.