Contracts between owner and contractor for a residential project

Question 1

Whats the purpose of a well defined contract?

Answer 1

A well defined contract will protect both the homeowner and the contractor. The contract will provide responsibilities for the homeowner and the contractor and also a means to address problem areas or disputes.

Question 2

The following is a list of recommendations that a quality contract should contain:

1. Da
2. Ow
3. Co
4. Na
5. Ar
6. Dr
7. Da
8. Co
9. Al
10. Pr
11. In
12. Ho
13. An
14. Ow
15. Ow
16. Ow
17. Ow

Answer 2

1. Date of agreement
2. Owner: name, address, and other contact information
3. Contractor: name address, and other contact information
4. Name and location of project
5. Architect: name, address, and other information.
6. Drawings and specifications identified as:
7. Date of commencement and substantial completion.
8. Contract lump sum.
9. Allowances (if any).
10. Progress payments and who authorizes payments and
    within what timeline.
11. Insurance requirements for owner and contractor.
12. How are modifications and change orders to be handled.
13. An adequate scope of work defined or per plans and
    specifications.
14. Ownership of drawings defined.
15. Owners right to stop work.
16. Owners right to carry out work.
17. Owners right to award separate contracts

Question 3

18. Contracts responsibilities including:

a. Re
b. Pr
c. Su
d. Pr
e. Pr
f. Pr
g. Pr
h. Pr
i. Pr
j. Pr
k. Pr

Answer 3

a. Review of documents and site conditions
b. Preparation of a schedule
c. Supervision of site including subcontractors
d. Provides for labor and materials
e. Provides discipline and order
f. Provides warranties
g. Provide payment for permits, and code related inspections.h. Provides submittals as required
i. Provide clean up of site
j. Provides for certificate of occupancy to owner
k. Protection of persons and property

Question 4

19. Architects responsibilities include:
    a. Re
    b. Vi
    c. Ha
    d. Pr
    e. Re

Answer 4

a. Represents the owners interests
b. Visits the site to monitor conditions
c. Has authority to approve or reject work and payment
applications.
d. Provides addendums and or change orders in a timely manner.
e. Return submittals within a timely manner

Question 5

Contracts:

Provisions

Answer 5

Provisions for concealed or unknown physical conditions

Question 6

Contracts:

Extensions

Answer 6

Extensions of time due to change orders, unknown physical conditions, material shortages, failure on part of the architect and or owner to approve submittals, failure of subcontractors to meet deadline dates and other related delays.

Question 7

Contracts:

Corrections

Answer 7

Corrections to completed work

Question 8

Contracts:

Miscellaneous provisions

Answer 8

a. Substitution of materials
b. Owners’ responsibility for engineers or special inspections.
c. Liquidated damages
d. Mobilization costs

Question 9

Termination:

Answer 9

Termination of contract by the contractor

Termination of contract by the owner

Question 10

Contracts:

contracts must include what resolution?

Answer 10

alternative dispute resolution

Question 11

Contract provides:

Answer 11

Provides for signatures of binding parties