A construction contract must be made before the actual construction work can be carried out, as it mentions the extent of the work to be done by the contractor and the levels of payment that must be released by the owner. Owners can protect themselves from construction delays with a compensation clause liquidated in their contract. Damage liquidated is a determined amount per day that the contractor pays to the owner for each day the construction is delayed. Instead of suing the court for damages, the owner and contractor may agree in advance for an amount of liquidated damages. 16. If, in the architect`s opinion, the work carried out by the contractor is unsatisfactory or if progress is slow or if it is likely that the contractor will not be able to complete the work on time, the owner has the right to announce the contract at the risk of the contractor by having 15 days if he has the right to award the contract to the agencies. the costs it deems appropriate and the costs incurred in that account and certified by the architect are deducted from the money owed by the holder or recovered by the contractor. The agreement between the contractor and the owner`s contract for the construction of a house should mention construction work such as masonry, frame, plumbing, electricity, cementing, etc. 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. 11. If the owner decides to provide the necessary building materials, he is credited with the cost of these materials and the value is deducted from the current invoice immediately below. If there are changes, they should be made in accordance with the agreement between the owner and the contractor.
In most cases, there will be no change. The changes will be minor. For example, the layout of cabinets, wiring and the inclusion of additional power outlets and other aspects may be discussed by the owner, so that his interests are served by the contractor. As long as construction costs are within the price limit, there will be no difficulty in making changes. In order for the liquidated damage to be maintained, the damage to the owner must be uncertain or difficult to determine in advance. In addition, the liquidated damage must be a reasonable amount and cannot be a penalty. And the delay in construction cannot be due to circumstances that are not controlled by the contractor, such as.B. changes in work or extreme weather.
If you do not pay according to the date indicated in the agreement, you can pay the fine. Similarly, the contractor is required to pay a penalty if he has not completed the project within the expected time frame. Even if the cost of different types of raw materials increases, the contractor should comply with the contract and it should be delivered on schedule. The total cost of the building – Rs.