Contracting Agreement

Contracting agreement.

Enter the name of the OWNER, referred to as OWNER, and Enter the name of the CONTRACTOR, referred to as CONTRACTOR, agree as follows:

CONTRACTOR shall perform the following services for OWNER:

Enter the description of the work to be performed

on the following estimated schedule:

Enter estimated completion schedule

for the following price: $ Enter the contract price (Enter the contract price dollars)

Contractor shall be responsible for the following in addition to the workman like performance of the work stated above:

The materials used for the following areas:

List the areas requiring specific materials

shall meet the following respective specifications, or be equivalent to the following manufacturer's product lines described:

Enter material specifications

Provision of all permits required for the services to be performed above.

CONTRACTOR shall at least 7 days prior to commencement of work provide the names and addresses of all sub-contractors intended to be utilized in the construction. At the time of each payment of any portion of the contract price, the CONTRACTOR shall provide a lien waiver or certificate of payment for all work performed by each sub-contractor.

Provision of worker's compensation insurance, general liability insurance in a minimum amount of $ Enter insurance limits required (in numerals) (Enter insurance limits required (in numerals) dollars).

Include the following if stipulated contract price shall be paid on: 1/3 Rough in;1/3 inspection;1/6;1/6

The stipulated contract price shall be paid as follows:

1/3 on rough in; 1/3 on first inspection and 1/6 on final inspection and 1/6 on final inspection and completion of all appearance/punch list in items.

Include the following if stipulated contract price shall be paid on: Weekly draw on per centage of completion

The stipulated contract price shall be paid as follows:

A weekly draw based upon per centage of completion, less a retainage of 10% per cent, which shall be paid on final inspection and completion of appearance/punch list items.

Include the following if stipulated contract price shall be paid on: Joint checks on materials; 1/3;1/3- 1/6,1/6 on labor

The stipulated contract price shall be paid as follows:

When bona fide bills for materials are presented the same shall be paid directly by the OWNER within the terms provided. Labor shall be paid as follows:

1/3 on rough in; 1/3 on inspection; 1/6 on completion; 1/6 on final inspection and completion of appearance/punch list items.

The CONTRACTOR shall daily remove all trash and debris from the premises.

The owner acknowledges an express mechanic's lien on the above described real estate to secure the payment of the amounts contracted herein.

Any disputes arising out of or related to this agreement shall be arbitrated under the rules of the American Arbitration Association before a single arbiter.

This agreement may be terminated by OWNER upon substantial abandonment of the project, defined as at least 3 business days without substantial activity, except delays caused by:

a) bona fide weather disturbances;

b) strikes;

c) shortages of material;

d) sub contractor delays not caused by the general contractor;

e) governmental delays except those caused by the fault of contractor or subcontractor;

or,

persistent failure of workmanship to meet high quality standards for which adequate assurance of correction is not provided.

In any disputes related to this agreement, the adjudication body may assess reasonable counsel fees to the prevailing party.

This is the entire agreement between the parties and this agreement may only be altered in writing.

Dated: _________________________

____________________________________________________

Enter the name of the OWNER

____________________________________________________

Enter the name of the CONTRACTOR

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