Starting a construction build with professional partners requires all parties to sign a contract. This document’s purpose is to explain the terms and conditions of the project and protect the interests of everyone involved in the business agreement.
Due to the intricacies of contracts, tackling one without legal assistance may lead to unexpected problems. For this reason, construction lawyers provide their expertise to ensure that every document is fair and legally binding between project owners and their building partners. They can also keep an eye out for potential contract issues and negotiate terms that best benefit you.
Different Types of Construction Contracts
Various kinds of projects call for different types of contracts. Choosing which one suits your needs best is pivotal for your project and your partnership with your construction experts.
Lump Sum or Fixed Price Contract
With this contract, you and your contractor agree on a fixed price to cover your project’s completion. This contract is ideal if your project has a streamlined scope and a set budget.
Cost Plus Contract
Aside from reimbursing your contractor for their actual costs, this contract variation also requires you to pay them a fee. Cost-plus arrangements work best for complex or multi-phase projects with a tentative scope.
Time and Materials Contract
This type of contract requires you to pay your contractor an hourly rate for their services, plus separate charges for all construction materials. It is most suitable for builds that are open-ended builds or those with scopes that are subject to change.
How To Legally Handle Problems With Your Construction Project
Throughout your project, it’s possible to encounter some construction issues. These matters can be contract disputes, project output quality, or contractual liens. Should complications arise, here’s a step-by-step guide on how to best approach the subject:
- Call your construction lawyer as soon as possible.
- Determine the best course of action for the problem with your lawyer.
- For concerns with the quality of work, attempt to fix the issue with your contractor.
- If you and your contractor can’t come up with a resolution, filing a claim with your insurance company may be necessary.
- For safety concerns, contact the proper authorities for an official investigation.
- Document all contracts, correspondence, and invoices associated with your project in case you’d need to take legal action.
Hire Experienced Construction Lawyers from a Trusted Firm
A well-drafted agreement ensures fewer worries throughout your building process. Before choosing and signing a construction contract, remember that having a legal expert in your corner will warrant better terms and results.
Contact Baird Mandalas Brockstedt and work with some of the best construction lawyers in Delaware. We guarantee that the contract you enter protects your interests and is fair for all parties associated with your project.