Contracts provide protection for all parties signing on the dotted lines.
According to legalmatch.com, a contract is an agreement between two parties that creates a mutual legal obligation. Oral contracts are possible, but written contracts are preferred for a number of reasons. Any time a person sets out to do a home improvement project that involves the use of contractors and other professionals, he or she should have a contract drawn up.
A contract can ensure that the work will get done safely, within a given time frame and according to specifications. A contract should contain certain details.
SCOPE OF WORK
Here is where the scope of the job should be spelled out in detail. This portion should include the materials being used, what the homeowner has requested, special details and who will take care of each facet of the job. For example, if the homeowner will be providing materials, it should be noted here.
PROCEDURE FOR CHANGES
To be comprehensive, renovation contracts should note the process that will be followed for any alterations or additions to the project.
FLOOR PLANS
In some instances, the contract will include floor plans, architectural drawings and other details.
INDEMNITY CLAUSE
The contract should include a clause that indemnified the property owner against legal liability should any damages or injuries take place on the property.
WORK SCHEDULE
The contract also should include a work schedule that identifies the requested start time and estimated end time for the project. Parties should understand that inclement weather or other delays could affect the schedule.
COST
The contract should reference the agreed upon bid price, highlighting the agreements for procedures if additional materials are needed or if the job runs long.
WARRANTY
If a warranty is being offered, the details should be included in the contract. Homeowners should expect a reasonable one-year warranty to cover any defects in the contractor’s work. Renovation contracts are essential any time there is an agreement between homeowner and contractor.
Good contracts will include various components.
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