The following BL TV program is brought to you by O'Flaherty law, please enjoy welcome to learn about law. My name is Kevin O'Flaherty from O'Flaherty law, and today we're going to explain general contractor construction contracts. We'll talk about some of the most important clauses in these contracts and some negotiating points and things to consider with these clauses. You should be aware that at Learned — about — law comm we have an article associated with this video that goes into much more detail with respect to each of these clauses and include some other clauses we're not going to talk about but for the sake of brevity, we're going to highlight some of the most important parts of that article. So, first let's talk about the scope of work clause. This lays out the work that the contractor is responsible for delivering in exchange for the compensation negotiated in the contract. Most important thing to consider in the scope of work clause is minimizing ambiguity in order to avoid litigation. You don't want any dispute about what the contractor agreed to do vs. did not agree to do. Second is the contract price. There's a couple different ways you can structure the contract price--simplest is a lump sum, which provides certainty for the owner and an opportunity for additional profit for the contractor if they can keep their cost low, but it also gives the contractor additional risk if things run higher than the lump sum. Unit pricing is consists of flat fees for various components of the work, so the more of one particular unit the owner wants, the more of the work is going to cost, but the owner has some certainty because they're basically ordering a particular price for a particular unit of work....
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About Blank Contractor Agreement
A blank contractor agreement refers to a contractual document that outlines the terms and conditions between a contractor and a client. It is a pre-made agreement template that is yet to be customized with specific details related to a particular contractor-client relationship. The purpose of a blank contractor agreement is to ensure both parties have a clear understanding of their rights, responsibilities, and obligations during the course of the contractor's work. It typically includes information such as the scope of work, payment terms, project timeline, confidentiality clauses, intellectual property rights, termination conditions, and any other relevant terms specific to the project. A blank contractor agreement is generally used by businesses or individuals who hire contractors to perform certain services or undertake specific projects. This can include various industries, such as construction, information technology, consulting, marketing, and any other field that requires the expertise of independent contractors. Having a comprehensive contractor agreement is crucial for both parties to maintain a professional and transparent working relationship. By outlining expectations and responsibilities, it helps mitigate potential disputes or misunderstandings that may arise during the course of the project.
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