Being a builder as a professional has its perks and winning a bid on top of it gives you so much more to celebrate. However don’t let the happiness cloud your thinking ability. As a builder, there are certain things which may get a little out of hand.
Here is how you can protect your contractual rights:
1. Get everything on paper
Make sure that everything that you and the other party have agreed upon is in writing. Don’t let the innocent faces fool you, from responsibilities and expectations to fee and requirements. Everything needs to be documented and signed by the other party.
Maintain your credentials at all costs, unlicensed builders are often unable to find the right jobs and find it difficult to enforce contracts. Sometimes, a valid license is a requirement for contracts and it also enhances your reputation.
3. The ‘no damage for delay’ clause
This clause protects the general contractors, owners and project leads from any kind of damage caused by a delay because of a sub-contractor. Make sure that you are aware of the fact that it can be enforced when needed.
4. Attorney fee recovery
Don’t forget to include the attorney’s fee recovery in the contract so that in case of a breach, you aren’t the one paying directly from your pocket.
5. The arbitration clause
This clause allows the parties involved to solve their disputes outside the courts. The clause is enforceable but it can be relinquished as the agreements are bound legally by the court.
As a builder, you can protect your rights, for a detailed discussion about right protection get in touch with a construction lawyer today.