Before one starts a construction project, whether you are the contractor or contracting individual, it is important to have a valid construction project contract. Many people may feel that the project is the most important fact, and while this is true, it is the contract that helps identify the different roles, responsibilities, payment procedures of each party. Should there be any issues down the track, it will also play a role in any potential disputes. Disputes can be very expensive but a well drafted construction contract will minimise the space for any disuptes by clearly stating each parties obligations. This article will provide information about how an Albany lawyer for construction contracts can help and which elements must be considered.
The Documentation For A Contract
Contrary to popular belief, the drafting of a construction project contract can be a very challenging and complex task. A typical construction project will require more than one contract due to the number of members involved and the different components of the project itself. It is important that all the contracts provide information of the assignment, along with data to help avoid any conflicts of interest or future disputes. The priority of a construction project contract is to ensure the deal is completed with respect, equality and fairness for all individuals. These details are well documented in construction law and practice.
The type of contract created will depend on the property being constructed; for example, a residential construction will have a different form to commercial construction contracts. The average commercial construction project will require a building contract; documentation on the appointments for the team; documentation on any external appointments; and documentation regarding the obligations of a project manager and quantity surveyor.
The Form Of Building Contracts
The building contract should be viewed as the basic contract and must detail all requirements of the construction project, including the time period in which it must be completed and the payments to be made. A factor to consider when drafting this documentation is safeguarding policies; unfortunately, standard construction contract formats do not incorporate and safeguarding policies. This can be highly detrimental when attempting to make amendments to the contract. It is recommended to hire an Albany lawyer for construction contracts to ensure all factors are covered in the contract and there is little need for any amendments.
The Form Of Professional Appointments
The standard format for professional appointments documentation differs according to the company and the construction. Irrespective of the formal, the professional appointments documentation must include information on liabilities and limitations for making claims. Seeing as these important factors are to be included in the contract, it is recommended one obtains the services of a construction lawyer and draft a beneficial professional appointments contract.
The Collateral Warranty
One important issue to consider when drafting any contract is the issue of collateral warranties. A collateral warranty is a means of creating direct contractual links between the owner and any sub-contractors employed by the contractor. This is important as it allows the owner to claim against the sub-contractor in the event of defective work, and as many construction projects require third-party assistance it may be worth reviewing. There are various structures that can be applied to collateral warranties and one must be aware of the most suitable for the particular project.
As can be seen, there are various factors that one must take into account when entering a construction project. As you can see it is crucial that the contract document is correctly worded and formatted. To do this you must work with an Albany lawyer for construction contracts. For assistance in that regard, you can contact McVeagh Fleming and Co to discuss how you might go forward.