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What is Understanding Construction Contracts about?
A construction contract is an agreement between a client and general contractor that details the scope of work, payment terms, and responsibilities of both parties. It includes provisions for fixed price, unit pricing, time and material, or cost-plus payment structures. The contract outlines project specifics, subcontractor arrangements, common clauses like escalation, and processes for negotiation, amendments, and dispute resolution. Standard elements cover parties, location, licensing, description of work
- Author
- mygenc
- Language
- EN