Expert Contract Review And Drafting
A construction contract is the basis for the commencement of every project and is a legally binding agreement between two or more parties. Often, the legal terms used in contracts can be difficult to understand. If written poorly, it can cost everyone big in the end. This is why our Tallahassee construction law firm can be an asset to your construction business. We are experts at contract reviewing and drafting and have extensive experience drafting legal documents.
4 Vital Contract Components
Contracts should be thoroughly written, contain clear language, and should never be ambiguous. Upon completion, all parties should understand their obligations, duties, and expectations as outlined and agreed upon in the contract. Without the following elements, your contract can be unenforceable.
1. Identification and Signatures
All parties involved in a contract need to be properly identified by providing full names, addresses, and signatures. Upon agreement, it must be signed by everyone involved.
2. Scope of Work
It is vital that the Scope of Work is detailed and clearly explains the requirements, project purpose, milestones, deliverables, and all relevant details related to the project.
3. Costs and Payments
This section should clearly identify how payments will be made and the terms and conditions. Costs and payments outside of the project should be included as well.
The contract should have a section outline how deliverables will be completed. This includes dates the project will begin, the start and end dates of each phase, and a final project completion date. It’s also important to address potential delays that you will not be responsible for.
5. Special Provisions
Include special provisions that apply to both parties. These may include indemnification clauses, pay-when-paid, or pay-if-paid provisions for example.
Leading Construction Law Firm
Including the above elements in a contract is a vital step in preventing risks. Again, it is extremely important that your contracts be written or review by a legal expert. Seeking the assistance of a construction law firm in Tallahassee to interpret your contract for you before you sign it. Failing to do so could result in expensive litigation and other associated fees.
If you are in need of a professional construction law firm, please submit our contact request form for more information.
Disclaimer: The information contained in this article is for general educational information only. This information does not constitute legal advice, is not intended to constitute legal advice, nor should it be relied upon as legal advice for your specific factual pattern or situation.