Time and material has elements of both the unit price and cost plus approach. The owner pays the contractor on the basis of effort expended, but there is no fee as such. An important element of this method is that these labor and equipment costs must include all indirect and overhead expenses, profit and contingency, in lieu of payment of any extra "fee." Such a contract may include a list of hourly payment rates, for carpenters etc., with a premium in normal hourly rates to include indirect expenses and overhead.
The Clark Nevada Time and Material Building and Construction Contract — Owner to Supply Materials is a legally binding agreement commonly used in the construction industry. This type of contract establishes the terms and conditions between an owner and a contractor for a construction project where the owner is responsible for providing the necessary materials. In this contract, the owner agrees to supply all the required materials, including but not limited to construction materials, equipment, tools, and supplies, as specified in the project plans and specifications. The contractor, on the other hand, agrees to provide the necessary labor, expertise, and equipment to complete the construction project using the materials provided by the owner. This type of contract is often used when the owner has specific materials preferences or access to discounted materials, allowing them to potentially reduce costs. It also gives the owner more control over the quality and source of materials used in the project. The Clark Nevada Time and Material Building and Construction Contract — Owner to Supply Materials typically includes various key provisions to ensure the smooth execution of the project. These provisions may include: 1. Scope of Work: Clearly outlining the scope of the project, describing the specific tasks, and indicating any limitations or exclusions. 2. Cost and Payment Terms: Stating the rates or markups for labor, equipment, tools, and other expenses incurred by the contractor. It may also detail the billing schedule and payment terms. 3. Duration and Schedule: Defining the expected duration of the project and establishing milestones or deadlines for the completion of specific tasks or phases. 4. Change Orders: Addressing the procedures for handling any changes or modifications to the scope of work, including the approval process, impact on costs, and potential time extensions. 5. Indemnification and Liability: Specifying the responsibilities and liabilities of each party regarding accidents, injuries, property damage, or any other potential issues that may arise during the construction process. 6. Dispute Resolution: Outlining the methods for resolving any disputes or disagreements that may occur during the project, such as mediation, arbitration, or litigation. It is important to note that while the basic structure of the Clark Nevada Time and Material Building and Construction Contract — Owner to Supply Materials is similar, there may be variations or additional provisions depending on the specific project or the preferences of the contracting parties. It is advisable to consult with legal professionals familiar with local laws and regulations to customize the contract to best suit the specific needs and requirements of the construction project.The Clark Nevada Time and Material Building and Construction Contract — Owner to Supply Materials is a legally binding agreement commonly used in the construction industry. This type of contract establishes the terms and conditions between an owner and a contractor for a construction project where the owner is responsible for providing the necessary materials. In this contract, the owner agrees to supply all the required materials, including but not limited to construction materials, equipment, tools, and supplies, as specified in the project plans and specifications. The contractor, on the other hand, agrees to provide the necessary labor, expertise, and equipment to complete the construction project using the materials provided by the owner. This type of contract is often used when the owner has specific materials preferences or access to discounted materials, allowing them to potentially reduce costs. It also gives the owner more control over the quality and source of materials used in the project. The Clark Nevada Time and Material Building and Construction Contract — Owner to Supply Materials typically includes various key provisions to ensure the smooth execution of the project. These provisions may include: 1. Scope of Work: Clearly outlining the scope of the project, describing the specific tasks, and indicating any limitations or exclusions. 2. Cost and Payment Terms: Stating the rates or markups for labor, equipment, tools, and other expenses incurred by the contractor. It may also detail the billing schedule and payment terms. 3. Duration and Schedule: Defining the expected duration of the project and establishing milestones or deadlines for the completion of specific tasks or phases. 4. Change Orders: Addressing the procedures for handling any changes or modifications to the scope of work, including the approval process, impact on costs, and potential time extensions. 5. Indemnification and Liability: Specifying the responsibilities and liabilities of each party regarding accidents, injuries, property damage, or any other potential issues that may arise during the construction process. 6. Dispute Resolution: Outlining the methods for resolving any disputes or disagreements that may occur during the project, such as mediation, arbitration, or litigation. It is important to note that while the basic structure of the Clark Nevada Time and Material Building and Construction Contract — Owner to Supply Materials is similar, there may be variations or additional provisions depending on the specific project or the preferences of the contracting parties. It is advisable to consult with legal professionals familiar with local laws and regulations to customize the contract to best suit the specific needs and requirements of the construction project.
