/ 4 Steps
The list below covers some of the basic 4 steps found in construction contracts, as well as some of the factors that need to be considered and written into the contract when appropriate.
Choose Your Contract Types
Construction contract types are usually defined by the manner in which the disbursement is going to be made; they also specify other terms, such as duration, quality, specifications, and other issues of similar importance.
A negotiator should have the characteristics and skills that allow for the right deal to be struck while achieving set goals. Certain tricks and methods can ensure everyone receives a good deal.
Based on the scope of the project and existing relationships with subcontractors, the project manager will make the decision based on what is most cost-effective and timely.
Usually, the contract agreement is executed between the owner of the project and the contractor (or supplier) that is providing the requested service. It contains several sections of clauses defining the scope, terms, and conditions.