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Basic Building and Construction Contract between Owner and Contractor

Bronx New York Basic Building and Construction Contract between Owner and Contractor

Name: Bronx New York Basic Building and Construction Contract between Owner and Contractor
Brand: US Legal Forms
Rating: 4.61 (269 reviews)

Category:

Construction - Contracts

State:

Multi-State

County:

Bronx

Control #:

US-01744BG

Format:

Instant download

Description

A building and construction contract must fulfill the same requirements as any other type of contract in regard to the following necessary elements:

" an agreement;
" between competent parties;
" based upon the genuine assent of the parties;
" supported by consideration;
" made for a lawful objective; and
" and in the form required by law.

Such a contract generally provides not only for the construction of the project, but also for many matters that are incidental to the project. Thus, it may provide for the carrying of liability, workers' compensation, and fire insurance policies, designating which party is responsible for obtaining particular insurance. A building and construction contract will typically specify the duties, responsibilities, and liabilities of each of the parties, as well as those of any employed architect or engineer. The amount and method of compensation is, of course, an important part of such a contract.

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FAQ

Fixed price construction contracts, also commonly referred to as lump sum or stipulated sum contracts, are the most common types of construction contracts. As its name suggests, under a fixed price contract a contractor agrees to construct a project for a fixed or agreed upon price.

Series: Owner/Contractor greements. This contract is used when project price is based on a 1sum (fixed price). It is suitable for large or complex commercial construction projects.

AIA A10421222017 is a stand-alone agreement with its own internal general conditions and is intended for use on construction projects of limited scope and complexity. The AIA A104 replaces AIA Document A1072122-2007, Standard Form of Agreement Between Owner and Contractor for a Project of Limited Scope.

The 4 Different Types of Construction Contracts Lump Sum Contract. A lump sum contract sets one determined price for all work done for the project.Unit Price Contract.Cost Plus Contract.Time and Materials Contract.

The documents produced by The American Institute of Architects (AIA) are the most widely used standard form contracts in the construction industry. They facilitate communications among all the parties involved in construction, which makes it easier to produce a high quality project in a timely and economical fashion.

On the Basis of Validity Valid Contract. Void Contract. Voidable Contract. Illegal Contract. Unenforceable Contract.

4 Types of Construction Contracts Lump-Sum Contracts. Cost-Plus-Fee Contracts. Guaranteed Maximum Price Contracts. Unit-Price Contracts.

Statutory warranties the work will be performed with due care and skill. the work will be in accordance with any plans and specifications set out in the contract. all materials supplied will be suitable for the purpose for which they are to be used. materials will be new, unless otherwise specified.

AIA Document G702®1992, Application and Certificate for Payment, and G703®1992, Continuation Sheet, provide convenient and complete forms on which the contractor can apply for payment and the architect can certify that payment is due.

Learn below about the four most common types of construction contracts. Lump Sum Contract. A lump sum contract sets one determined price for all work done for the project.Unit Price Contract.Cost Plus Contract.Time and Materials Contract.

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Why a Construction Contract Is Important. 2.6 Consultant Selection Process for Construction Inspection Agreements.Racial discrimination in city contracting locked out many Roxbury businesses from the reliable income of a City Hall contract.

During the 1980s, the City found ways to make sure those who needed the money received it but often refused to give those who didn't have the opportunity to compete for it. In 1992, the City expanded the use of contractors in civil and criminal construction inspections, making it part of the city's Civil Services. In 1994, these contractors received a new set of standards for subcontracting, setting a pattern for new and reclassified construction contractors to follow. Under the new standards, contracts are no longer contingent on how much work a contractor performs. Contractors are required to perform their own inspection and can be sued for failure to do so. The City has made improvements to these provisions of its Civil Services contract since its inception to ensure that construction sites are fully inspected and inspections are performed without bias by contractors as well as city workers.

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The materials in this section are taken from public sources. We disclaim all representations or any warranties, express or implied, as to the accuracy, authenticity, reliability, accessibility, adequacy, or completeness of any data in this paragraph. Nevertheless, we make every effort to cite public sources deemed reliable and trustworthy.

Bronx New York Basic Building and Construction Contract between Owner and Contractor

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