Salt Lake City, Utah is a vibrant and rapidly growing city nestled in the stunning backdrop of the Rocky Mountains. Known for its stunning natural beauty, world-class ski resorts, thriving economy, and strong sense of community, Salt Lake City has become a sought-after destination for both residents and tourists alike. When it comes to construction projects in Salt Lake City, subcontracting plays a crucial role in ensuring the successful completion of projects. Among the various types of subcontracts available, one commonly used type is the "Salt Lake Utah Subcontract for Construction of Portion of Building with Provisions for Termination for Cause." This particular subcontract agreement includes specific provisions that allow the contractor to terminate the agreement for cause, should any defaults or breaches occur by the subcontractor. In such cases, the contractor has the right to complete the remaining work themselves and retain all amounts due to the subcontractor. This subcontract agreement serves as a protective measure for the contractor, enabling them to maintain control over the project and ensure its timely completion, even in the event of subcontractor complications. It provides a safety net for the contractor, allowing them to step in and finish the work while securing the funds that would have been paid to the subcontractor. While this type of subcontract is commonly utilized, it's essential to note that other variations can exist based on project specifics and the preferences of the parties involved. Some named alternatives may include the "Salt Lake Utah Subcontract for Construction of Materials to go into Building with Provisions for Termination for Cause" or the "Salt Lake Utah Subcontract for Construction of Portion of Building with Retention of Amounts due Subcontractor." These variations may have unique provisions tailored to specific construction scenarios and the requirements of the parties involved. However, the common thread among these subcontracts is the inclusion of provisions that allow the contractor to terminate the agreement for cause and retain amounts due to the subcontractor, ensuring project continuity and financial protection. In conclusion, Salt Lake City, Utah, offers a bustling construction industry where subcontracting is crucial for successful project completion. Various types of subcontracts exist, including those with provisions enabling the contractor to terminate the agreement for cause and complete the work while retaining all amounts due to the subcontractor. These subcontracts ensure project stability, financial security, and the continuation of construction activities in this thriving city.
Salt Lake Utah Subcontract for Construction of Portion of or Materials to go into Building with Provisions that upon Termination for Cause Contractor May Complete Work and Retain all Amounts due Subcontractor
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FAQ
Failing to perform your obligations under a contract gives rise to serious consequences. It allows the innocent party to terminate the contract. A breach of contract occurs when a party to a contract fails to fulfil its promises in accordance with the provisions of the agreement.
Defaulting means failing to live up to one's obligation. In contract law, when one of the parties to a contract fails to fulfill his obligation in the contract, he is said to be "in default."
(l) If the termination is partial, the Contractor may file a proposal with the Contracting Officer for an equitable adjustment of the price(s) of the continued portion of the contract. The Contracting Officer shall make any equitable adjustment agreed upon.
The TCO will be responsible for negotiating any settlement with the contractor, including a no-cost settlement if appropriate. When the contracting officer terminates a contract for convenience, the government is liable to the contractor for the contractor's incurred costs and profit on all work performed.
Two accrued obligations that are most commonly recognised by the courts as surviving termination are: The obligation to pay money due under a contract; and. The obligation to pay compensation/damages.
1 - Termination of contract in case of fundamental non-performance. (a) If a party's failure to perform its obligation amounts to a fundamental non-performance, the other party may terminate the contract. (b) The right of a party to terminate the contract is exercised by notice to the other party.
The Contractor may request the Owner to suspend work if the suspension is necessary for the proper execution of the Work or by reason of weather or other conditions which affect the safety of the works and the laborers (26.01).
Grounds for termination A common law right to terminate will arise in three circumstances: a breach of an essential term; a sufficiently serious breach of a non-essential term; or. the repudiation or renunciation of the contract by the other party.
Following termination, the owner is in a difficult bargaining position with potential completion contractors, particularly in an active construction market. Unpaid subcontractors and suppliers must be wooed back to the job, or replaced. In either event, the owner may end up paying for work or materials twice.
Termination of a contract entails cancelling the contract before the parties have fully performed their obligations. All contractual obligations will cease to exist upon valid termination. Your rights to terminate arise under the law or otherwise under clauses within the contract you have entered into.