Many people regret the importance of a well-documented agreement between the owner and the contractor, which is beneficial to both the parties, including the owner and the developer. Below we discussed the points that we should consider in the mutual agreement. The home building contract between the owner and the India pdf contractor can be concluded between the two parties with the help of legal advice, where both parties have agreed with the conditions mentioned. A construction contract is a legal document that binds the two parties to the agreed terms. It mentions the duration of the project, the cost per square metre or per item, the building materials used, etc. While the owners own land, the #________ – (address of the site on which construction is under way) and a house in that land, in accordance with the approved architect`s plan and the specifications, rates and quantities that are attached to this Agreement. If you want to start work immediately, you can accept an interim agreement. You should mention in the agreement that the interim contract is in effect until a permanent contract is signed between the owner and the contractor. The agreement should mention the cost of different building materials used for the construction of the house. If we are not talking about additional fees, they should be discussed with the housing contractor. If you go for a package for specific extra work that is performed differently than mentioned in the agreement. You should receive a quote if you have to pay additional expenses.
The standard agreement between the owner and the contractor will contain full details of the construction. The construction must be carried out as a local construction. The contract should include drawings and specifications approved by the relevant authority. Details of the authorization granted by the local government should also be mentioned in the agreement. Planning plans should comply with local regulations and full information should be made available to the owner. Various elements such as building structure, electrical wiring, plumbing, drainage, septic tank, water tanks and gutters, access to the road, landscaping and full description should be included in the agreement, so there will be no ambiguity. 16. Does the architect consider that the work carried out by the contractor is unsatisfactory, or that progress is slow or that it is likely that: the contractor will not be able to complete the work on time, the owner has the right to terminate the contract at the contractor`s risk by taking 15 days if he has the right to award the contract to agencies they deem appropriate and any cash loss or expense in that account, as the architect attests, is deducted from the money owed by the holder or recovered by the holder.