Agreement between owner and building contractor in bangalore
After several meetings with different Building contractors / Civil contractors in order to build your dream House and going through several building construction Quotations, After which you Select the building contractor who you feel is the right person for building your House in Bangalore. The NEXT step is quite Critical and important in order to make sure that the project proceeds smoothly without completes without any delays or conflicts with the Civil contractors.
Many people miss the importance of having a well-documented agreement between the Owner and Contractor which is beneficial for both the parties including the Owner and Civil contractors. Below we have made points to consider while making the mutual agreement.
PONTS CONSIDERED WHILE DRAFTING THE AGREEMENT BETWEEN BUILDING CONTRACTOR AND OWNER
Building Construction rates along with the detailed specifications.
Cost of Basic Construction materials used like Steel, Cement, Sand, M Sand, Plastering Sand.
Who will PAY/GET the Benefit if there is a change in Basic cost of Materials.
Detailed Project Timelines along with dates.
Who pays for the Architect Fees / House planning charges the construction phase.
Payment time lines along with due dates.
What will be the Owners Scope of work like BBMP BDA Plan Sanction, BWSSB, BESCOM etc.
Delays in Payment made by Owner (important).
Delays in Work done by the Building Contractors (important).
Security/Ownership of Construction materials on site.
The penalty for Delayed Work / Delayed payment.
Mention of all Kinds of work carried out by the Contractor for the proposed House.
Extra works along with Cost like Overhead tank, Compound wall, Parapet wall etc.
Basic costs of finishing materials like Flooring, Painting, Wall tiles, Bath ware fittings.
The contractor needs Approval for carrying Extra works on site.
Settlement terms if Both parties want to discontinue work mutually.
Owner holding of 2% on ever bill which will be given after 3 months after project completion.
The responsibility of Building Contractor till 3 months after project completion for Civil problems.
Final bill Settled to Civil contractor after measuring actual work done on site.
All disputes to be mutually settled in presence of a Neutral Qualified site Engineer.