What are the most important things to include in a contract with a contractor?
What are the critical elements and key considerations that individuals should include in a contract when engaging a contractor for their construction or renovation project?
When engaging a contractor for a construction or renovation project, a comprehensive contract should include a clear scope of work, detailed timeline, transparent payment terms, breakdown of costs, provisions for change orders, proof of insurance and licensing, warranties and guarantees, penalties and incentives, procedures for dispute resolution, specifications on subcontractors, expectations for site cleanup, guidelines for property access, a termination clause, and defined communication protocols. By addressing these critical elements, individuals can establish a solid foundation for a successful and mutually beneficial contractual relationship, minimizing risks and ensuring project expectations are met.