In addition to the commercial building contracts price, it is also important to include the details of all the other elements of the construction project. The list of contract documents should include a construction schedule, the scope of the project, and the number of subcontractors. The scope of the work describes the types of tasks the contractor will perform. The contract should also state the start and completion dates. Detailed instructions should be provided to the subcontractors, as well as a list of special requirements for the project.
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The scope of work provision, sometimes referred to as the performance duties provision, lays out the expectations of the property owner and the builder. It should provide a clear description of the work that will be done, the timeframes for completion, and a clear description of the work required. In addition, it should define any unforeseen events and any other conditions that must be resolved before the project can start. Finally, it should outline the costs, timeframes, and quality of the finished product.
Despite the many benefits of a lump sum contract, it is important to consider the costs involved in the project. It is possible to add a guaranteed maximum price or an additional clause that outlines additional work, which can cost thousands of dollars. However, it is important to note that a lump-sum contract cannot be renegotiated once the project is complete. Furthermore, the parties may argue about whether a variation is necessary or not.