Domestic Building Contract

Question 1

Over what value of works is a contract required?

Answer 1

$10,000

Question 2

What is a Form 1 in relation to domestic building works?

Answer 2

Used to alter from a method A to a method B contract. Client must sign a Form 1 change of legal rights to institute a different payment schedule.

Question 3

What is a Form 2 in relation to domestic building contracts?

Answer 3

Job specific payment schedule including stages, % price and $ amounts

Question 4

End Of Contract - an owner may end a major domestic contract if?

Answer 4

1 - contract price rises by 15% or more after contract signing
2 - contract has not been completed within 1 1/2 times the period stated in contract.