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 Harris Texas Time and Material Building and Construction Contract — Owner to Supply Materials is a legal agreement that outlines the terms and conditions between an owner or client and a contractor for building and construction projects in Harris, Texas. This type of contract is specifically designed for projects where the owner provides the necessary materials for construction. Key terms in this contract: 1. Harris, Texas: Refers to the geographical location where the construction project will take place. This contract adheres to the specific laws, regulations, and building codes applicable in Harris County, Texas. 2. Time and Material: This contract is based on the time and material pricing model, where the contractor is paid for the actual time spent on the project and the cost of materials used. The contractor charges an agreed-upon hourly rate, inclusive of labor, equipment, and overhead costs, and the owner reimburses the actual cost of materials purchased by providing receipts. 3. Owner: The party responsible for hiring the contractor and providing the necessary construction materials. The owner may be an individual, business entity, or organization, seeking to have a building or construction project completed. 4. Contractor: The party responsible for executing the building and construction work as per the owner's specifications. The contractor must follow the terms, conditions, and specifications outlined in the contract, while maintaining the agreed-upon quality standards. 5. Materials: Refers to all the necessary supplies, equipment, and products required for the construction project. The owner agrees to supply the materials, which may include items like cement, steel, lumber, electrical fittings, plumbing fixtures, etc. 6. Scope of Work: This section defines the specific tasks and activities that the contractor will undertake during the project. The scope of work may include excavation, foundation construction, framing, electrical work, plumbing installations, painting, etc. It should provide clear details on what needs to be achieved by the contractor using the provided materials. 7. Payment Terms: This section outlines the payment schedule and terms agreed upon between the owner and the contractor. It may include conditions for progress payments based on milestones, as well as reimbursement for materials upon provision of valid receipts. Different types of Harris Texas Time and Material Building and Construction Contracts — Owner to Supply Materials may vary based on factors like project size, complexity, and industry requirements. Some variations may include: 1. Residential Time and Material Building and Construction Contract: Specifically designed for residential projects, such as single-family homes or apartment complexes. 2. Commercial Time and Material Building and Construction Contract: Customized for commercial construction projects, including office buildings, retail spaces, warehouses, etc. 3. Industrial Time and Material Building and Construction Contract: Tailored for large-scale industrial projects, such as factories, plants, refineries, or manufacturing facilities. 4. Infrastructure Time and Material Building and Construction Contract: Geared towards projects involving infrastructure development, such as roads, bridges, dams, or utility systems. Each type of contract may involve unique considerations, regulations, and specifications relevant to the specific project type.The Harris Texas Time and Material Building and Construction Contract — Owner to Supply Materials is a legal agreement that outlines the terms and conditions between an owner or client and a contractor for building and construction projects in Harris, Texas. This type of contract is specifically designed for projects where the owner provides the necessary materials for construction. Key terms in this contract: 1. Harris, Texas: Refers to the geographical location where the construction project will take place. This contract adheres to the specific laws, regulations, and building codes applicable in Harris County, Texas. 2. Time and Material: This contract is based on the time and material pricing model, where the contractor is paid for the actual time spent on the project and the cost of materials used. The contractor charges an agreed-upon hourly rate, inclusive of labor, equipment, and overhead costs, and the owner reimburses the actual cost of materials purchased by providing receipts. 3. Owner: The party responsible for hiring the contractor and providing the necessary construction materials. The owner may be an individual, business entity, or organization, seeking to have a building or construction project completed. 4. Contractor: The party responsible for executing the building and construction work as per the owner's specifications. The contractor must follow the terms, conditions, and specifications outlined in the contract, while maintaining the agreed-upon quality standards. 5. Materials: Refers to all the necessary supplies, equipment, and products required for the construction project. The owner agrees to supply the materials, which may include items like cement, steel, lumber, electrical fittings, plumbing fixtures, etc. 6. Scope of Work: This section defines the specific tasks and activities that the contractor will undertake during the project. The scope of work may include excavation, foundation construction, framing, electrical work, plumbing installations, painting, etc. It should provide clear details on what needs to be achieved by the contractor using the provided materials. 7. Payment Terms: This section outlines the payment schedule and terms agreed upon between the owner and the contractor. It may include conditions for progress payments based on milestones, as well as reimbursement for materials upon provision of valid receipts. Different types of Harris Texas Time and Material Building and Construction Contracts — Owner to Supply Materials may vary based on factors like project size, complexity, and industry requirements. Some variations may include: 1. Residential Time and Material Building and Construction Contract: Specifically designed for residential projects, such as single-family homes or apartment complexes. 2. Commercial Time and Material Building and Construction Contract: Customized for commercial construction projects, including office buildings, retail spaces, warehouses, etc. 3. Industrial Time and Material Building and Construction Contract: Tailored for large-scale industrial projects, such as factories, plants, refineries, or manufacturing facilities. 4. Infrastructure Time and Material Building and Construction Contract: Geared towards projects involving infrastructure development, such as roads, bridges, dams, or utility systems. Each type of contract may involve unique considerations, regulations, and specifications relevant to the specific project type.
