Essential Contract Elements To Keep Your Project On Track.
KEY CONSIDERATIONS INCLUDE:
-
Payment Terms
Review the total contract price, payment schedule, and methods, including when the final payment is due.
-
Variations
Establish a clear process for handling changes to the project. This should include how additional costs and time extensions will be managed and approved.
-
Insurance
Specify the required insurance coverage and clarify who is responsible for what. This protects against claims related to project risks.
-
Possession and Access Terms
Clearly setting out expectations on possession and access rights of each party during construction.
-
Delays
Address potential delays caused by factors like bad weather or late material deliveries, including how these delays will be managed and communicated.
-
Termination Clauses
Clearly outline the conditions under which the contract can be terminated by either party. This helps manage risks and expectations.
-
Warranties
Include warranties for materials and workmanship to ensure any defects are addressed within a specified period.
These steps can help avoid misunderstandings and keep your project on track.
Payments, Loans & Ownership Advice.
Advising On Contentious Payments
We offer expert advice on disputes related to payments under the Construction Contracts Act, helping you navigate and resolve any issues effectively.
Loan Security And Ownership Structures
In addition, we also provide tailored advice on loan security and ownership structures to protect your investments and ensure project success.
Whether you are a construction company, builder, developer, investor, or an owner-occupier, our dedicated Property team is committed to supporting you with all legal aspects of your building contracts. Get in touch to discuss your situation today.