Four important tips for negotiating fair building contracts

Although we are at a time when buildings 3D can be printed, most modern construction work is still being manufactured by contractors and manual work. Since the prices continue to rise at a global level (yes, the products even affect the grocery store) and can negotiate a fair contract between contractors and owners in order to bring about the prospects and the favor of both parties.

Tip No. 1: If you want to cut corners, rethink your plans

Just because the materials cost a certain amount in February when you conclude a contract does not mean that you will remain the same amount in April. Try to estimate an over/under -price price in your contract. Make sure that “corners of cutting” can reduce the quality of work and influence security.

Tip No. 2: Have a letter of intent (Loi)

A letter of intent is not required, and even one is not binding; However, it offers a certain security between the two parties. Imagine the preliminary contract where you can determine expectations before signing the legally binding contract.

Tip No. 3: Do not pay out completely in advance

This may seem contrary, but it is a strategy that can help keep your contractor before taking on a new project. The not Means to hold back large percentages of payment. You should strive to hold back 1-10% of the total amount until the job reaches considerable completion, as you may stick to finding someone who carries out final repairs, cleanup and finish.

Tip 4: Enclose attorney fees

There can be times when an owner must sue his contractor for breach of contract, negligence, incorrect presentation and poor quality of work, etc., etc. The contractor's responsibility for attorney fees if he loses the legal dispute or arbitration procedure can provide a certain relief.

It is still the best practice to speak to your lawyer before you start negotiations. The lawyer can often help you research and prepare your contract to make sure you get the best out of the transaction without concluding an unfair offer.