A well-drafted construction contract in North Carolina will include the price for the work and the terms of payment. Foreseeable risks should also be addressed to protect both parties. It’s important for everyone involved in the agreement to understand exactly what they are committing themselves to because once it’s signed, the contract usually cannot be changed.
To avoid disputes with construction contracts, the price needs to be clearly laid out. In addition to an hourly rate, any other fees (or at least an estimate) should be included. The payment method also needs to be included. Sometimes, installment payments can be arranged if a lump sum is not feasible. Include information regarding payment penalties if it’s reasonable or necessary to do so.
The contract should include a time frame. The party performing the construction should be sure that that they are allowing enough time to finish the project. The party having the work done should be sure that the schedule conforms to their needs. It’s important that everyone agrees so that they are not obligated for a longer period of time. The materials that will be used should be clearly laid out in the construction contract.
It’s common for problems to arise during the construction process. The contract determines how issues will be resolved. Anyone signing a contract should carefully consider every part of the agreement. An attorney could help a client by examining the contract and making sure they are protected. If a client is dealing with construction contract disputes, the lawyer could help them settle the matter.