Contracts

Question 1

Domestic building contracts are prepared in accordance with which legislation?

Answer 1

Domestic Building Contracts Regulations

Question 2

What are the progress payments for Method A contract?

Answer 2

Deposit
Base
Frame
Lock Up
Fix
Completion

Question 3

What is defined as a prime cost item?

Answer 3

Item not selected at the time of signing the contract Ie applainces, fixtures and fittings

Question 4

What is the minimum amount of public liability required to enter into a contract?

Question 5

How long is the cooling off period in a contract?

Question 6

What is the builder entitled to if the owner exits the contract during the cooling off period?

Question 7

Does the builder need to provide evidence of prime cost and provisional sum items?

Question 8

What is defined as capacity to pay?

Answer 8

Owner must provide the Builder with written evidence of the ability to pay the Contract Price within 7 days of execution of the Contract