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.
Phoenix, Arizona Time and Material Building and Construction Contract — Owner to Supply Materials is a legally binding agreement that outlines the terms and conditions between a property owner (referred to as the "Owner") and a construction contractor (referred to as the "Contractor") for a building or construction project in Phoenix, Arizona. This type of contract is based on the time and materials method of payment, meaning the Contractor is compensated based on the actual hours worked and the cost of materials used in the project, rather than a prefixed or lump sum amount. The Owner not only provides the necessary materials and supplies required for the project, but also assumes the responsibility of sourcing, purchasing, and delivering them to the construction site. The Phoenix, Arizona Time and Material Building and Construction Contract — Owner to Supply Materials typically includes the following key elements: 1. Scope of Work: A detailed description of the intended work to be performed, including specifications, plans, drawings, schedules, and any other relevant project documents. 2. Materials and Supplies: This section specifies that the Owner will be responsible for supplying all necessary materials and supplies required for the project. It may also include provisions regarding quality, delivery timelines, and responsibility for damaged or defective materials. 3. Labor and Compensation: The contract details the hourly labor rates for different categories of workers involved in the construction, such as skilled tradespeople and general laborers. It may also include terms for any additional compensation for overtime, weekends, or holidays. 4. Time Frame: The contract establishes the project start date, the estimated duration of the project, and any specific milestones or completion dates that need to be met. 5. Change Orders: This section outlines the process and requirements for requesting and approving changes to the scope of work, materials, or other aspects of the project. It may include provisions for additional compensation or time extensions resulting from approved change orders. 6. Payment Terms: The contract specifies when and how the Contractor will submit invoices for the work and when the Owner is required to make payments. This section may also include provisions for any retain age or hold back amounts. 7. Insurance and Indemnification: This part outlines the insurance requirements for both the Contractor and the Owner, such as general liability insurance, workers' compensation insurance, and any additional coverage necessary for the project. It may also include provisions for indemnifying each party against claims, damages, or liabilities arising from the project. Different types of Phoenix, Arizona Time and Material Building and Construction Contract — Owner to Supply Materials may vary in their specific details and clauses based on the size, complexity, and nature of the construction project. However, the key elements mentioned above remain common to most contracts of this kind.Phoenix, Arizona Time and Material Building and Construction Contract — Owner to Supply Materials is a legally binding agreement that outlines the terms and conditions between a property owner (referred to as the "Owner") and a construction contractor (referred to as the "Contractor") for a building or construction project in Phoenix, Arizona. This type of contract is based on the time and materials method of payment, meaning the Contractor is compensated based on the actual hours worked and the cost of materials used in the project, rather than a prefixed or lump sum amount. The Owner not only provides the necessary materials and supplies required for the project, but also assumes the responsibility of sourcing, purchasing, and delivering them to the construction site. The Phoenix, Arizona Time and Material Building and Construction Contract — Owner to Supply Materials typically includes the following key elements: 1. Scope of Work: A detailed description of the intended work to be performed, including specifications, plans, drawings, schedules, and any other relevant project documents. 2. Materials and Supplies: This section specifies that the Owner will be responsible for supplying all necessary materials and supplies required for the project. It may also include provisions regarding quality, delivery timelines, and responsibility for damaged or defective materials. 3. Labor and Compensation: The contract details the hourly labor rates for different categories of workers involved in the construction, such as skilled tradespeople and general laborers. It may also include terms for any additional compensation for overtime, weekends, or holidays. 4. Time Frame: The contract establishes the project start date, the estimated duration of the project, and any specific milestones or completion dates that need to be met. 5. Change Orders: This section outlines the process and requirements for requesting and approving changes to the scope of work, materials, or other aspects of the project. It may include provisions for additional compensation or time extensions resulting from approved change orders. 6. Payment Terms: The contract specifies when and how the Contractor will submit invoices for the work and when the Owner is required to make payments. This section may also include provisions for any retain age or hold back amounts. 7. Insurance and Indemnification: This part outlines the insurance requirements for both the Contractor and the Owner, such as general liability insurance, workers' compensation insurance, and any additional coverage necessary for the project. It may also include provisions for indemnifying each party against claims, damages, or liabilities arising from the project. Different types of Phoenix, Arizona Time and Material Building and Construction Contract — Owner to Supply Materials may vary in their specific details and clauses based on the size, complexity, and nature of the construction project. However, the key elements mentioned above remain common to most contracts of this kind.
