Construction Contract

Business / Construction / Construction Contract : A legal document which specifies the what-when-where-how-how much and by whom in a construction project. A good construction contract will include: The contractors registration number. A statement of work quality such as 'Standard Practices of the Trades' or 'according to Manufacturers Specifications'. A set of Blue Prints or Plans. A construction timetable including starting and completion dates. A set of Specifications. A Fixed Price for the work, or a Time and Materials formula. A Payment Schedule. Any Allowances. A clause which outlines how any disputes will be resolved. A written Warrantee.

Other Words for Contract

Contract Adjective Synonyms: agreement, understanding, deal, bargain, arrangement, pact, commitment, obligation, compact
Contract Verb Synonyms: catch, acquire, get, come down with, develop, become infected with, go down with
Contract Noun Synonyms: engage, agree, promise, covenant, undertake

Time And Materials Contract

Business / Construction / Time And Materials Contract: A construction contract which specifies a price for different elements of the work such as cost per hour of labor, overhead, profit, etc. A contract which may not have a maximum price, or may state a MORE


Business / Construction / Allowance(s) : A sum of money set aside in the construction contract for items which have not been selected and specified in the construction contract. For example, selection of tile as a flooring may require an all MORE


Business / Accounting / Turnover: The income of a business over a period of time (usually a year). MORE