This form is designed for use between Commercial Contractors and Property Owners and may be executed with either a cost plus or fixed fee payment arrangement. This contract addresses such matters as change orders, work site information, warranty and insurance. This form was specifically drafted to comply with the laws of the State of Tennessee.
A Nashville Tennessee Commercial Contract for Contractor is a legally binding agreement between a contractor and a client that outlines the terms and conditions of a commercial construction project taking place in Nashville, Tennessee. This contract ensures that both parties are protected and have a clear understanding of their responsibilities and obligations throughout the duration of the project. Keywords: Nashville Tennessee, commercial contract, contractor, construction project, terms and conditions, obligations, responsibilities. Types of Nashville Tennessee Commercial Contracts for Contractor: 1. Fixed-Price Contract: This type of contract stipulates a predetermined fixed price for the entire project, regardless of any unforeseen circumstances or changes that may arise during construction. It provides certainty for both the contractor and the client regarding project costs. 2. Cost-Plus Contract: In this contract, the contractor is reimbursed for the actual costs incurred during construction, including labor, materials, and subcontractor fees, plus an agreed-upon percentage as profit. This type of contract allows for flexibility in pricing and is suitable when project scope and costs are uncertain. 3. Unit Price Contract: Under a unit price contract, the contractor charges a specific price per unit of work performed, such as per square foot of construction or per item installed. This type of contract is often used when the project involves repetitive tasks, enabling accurate pricing and control over costs. 4. Time and Material Contract: In this type of contract, the contractor charges an hourly rate for labor, plus the cost of materials used. It is typically used when the scope of work is uncertain or when changes are anticipated during the project, allowing for flexibility in pricing and accommodating additional requirements. 5. Design-Build Contract: This contract type combines the design and construction phases, with the contractor taking responsibility for both aspects. The contractor works closely with the client to develop the project design and subsequently handles the construction. It offers a streamlined process and single-point accountability. 6. Lump-Sum Contract: Also known as a fixed-sum contract, a lump-sum contract outlines a predetermined total price for the entire project. The contractor is responsible for completing the project within the agreed-upon budget, regardless of any cost overruns or additional work required. This contract provides the client with cost certainty but requires careful project planning and risk assessment by the contractor. In conclusion, a Nashville Tennessee Commercial Contract for Contractor serves as a vital document when undertaking commercial construction projects in Nashville, Tennessee. These contracts protect the rights and define the responsibilities of both parties involved, ensuring a smooth and successful project completion.A Nashville Tennessee Commercial Contract for Contractor is a legally binding agreement between a contractor and a client that outlines the terms and conditions of a commercial construction project taking place in Nashville, Tennessee. This contract ensures that both parties are protected and have a clear understanding of their responsibilities and obligations throughout the duration of the project. Keywords: Nashville Tennessee, commercial contract, contractor, construction project, terms and conditions, obligations, responsibilities. Types of Nashville Tennessee Commercial Contracts for Contractor: 1. Fixed-Price Contract: This type of contract stipulates a predetermined fixed price for the entire project, regardless of any unforeseen circumstances or changes that may arise during construction. It provides certainty for both the contractor and the client regarding project costs. 2. Cost-Plus Contract: In this contract, the contractor is reimbursed for the actual costs incurred during construction, including labor, materials, and subcontractor fees, plus an agreed-upon percentage as profit. This type of contract allows for flexibility in pricing and is suitable when project scope and costs are uncertain. 3. Unit Price Contract: Under a unit price contract, the contractor charges a specific price per unit of work performed, such as per square foot of construction or per item installed. This type of contract is often used when the project involves repetitive tasks, enabling accurate pricing and control over costs. 4. Time and Material Contract: In this type of contract, the contractor charges an hourly rate for labor, plus the cost of materials used. It is typically used when the scope of work is uncertain or when changes are anticipated during the project, allowing for flexibility in pricing and accommodating additional requirements. 5. Design-Build Contract: This contract type combines the design and construction phases, with the contractor taking responsibility for both aspects. The contractor works closely with the client to develop the project design and subsequently handles the construction. It offers a streamlined process and single-point accountability. 6. Lump-Sum Contract: Also known as a fixed-sum contract, a lump-sum contract outlines a predetermined total price for the entire project. The contractor is responsible for completing the project within the agreed-upon budget, regardless of any cost overruns or additional work required. This contract provides the client with cost certainty but requires careful project planning and risk assessment by the contractor. In conclusion, a Nashville Tennessee Commercial Contract for Contractor serves as a vital document when undertaking commercial construction projects in Nashville, Tennessee. These contracts protect the rights and define the responsibilities of both parties involved, ensuring a smooth and successful project completion.
