Insurance Services

Things to Know About General Contractor’s Contract

»Posted by on May 4, 2020 in Insurance Services | 0 comments

One of the most vital elements of an effective home renovation or remodeling project is having a comprehensive and clear contract with your general contractor. It can make all the difference between a project that turns into a costly mistake or a project that you will be pleased with for a longer period.

For those who don’t know, a contract protects your property, your budget, and yourself. Thus, before you sign a contract with general contractors Grand Junction, here are a couple of things you need to think about:

Warranties

Almost every reliable contractor in every industry provides a warranty for the work completed. Before signing a contract, you’ve got to ensure the warranty of the contractor spells out clearly what is and isn’t covered. It should also include the length of time for different coverages.

Payments

To could mean that you and the contractor agree on when payments are to be made if you’ve got a payment schedule in writing. This will get rid of any billing issues. You’ve got to connect payments to the delivery of products such as new carpeting or new windows, completion percentages, or particular milestones. It does not matter how you figure out your schedule. You should not pay in full if the project is not complete.

Scope of Work

To help you stay in control of both expenses and timing, you’ve got to ensure the contract details the scope of work to be completed. Work details can be long or shortlist. This depends on your project. The scope of work required for a more direct project, such as having new flooring installed will be less detailed compared to a work for a room renovation that needs a couple of various subcontractors.

Before the project starts, you’ve got to ensure everything is written, whatever the type of project. details can include descriptions on who is accountable for different permission and permits, expectations about site cleanup and maintenance, types and colors of finishes, material specifications, and much more.

Scheduling

One of the most popular sources of issues on a home renovation project is messy scheduling. Though delays because of weather or material availability might not be avoidable, and small delays are most likely to happen, you still need to have schedule details in the contract. Important dates to include are crucial milestones along the way and the expected finish date.

Insurance

Though the proof of insurance of a contractor might not be attached to the contract, you can ask him/her to state the details of the insurance in the contract. You should know what the right amount of liability insurance is for your area. Also, make sure that any contractor you employ has this coverage.

Licensing

You need to be definitely sure that your contractor has the right licensing to meet the requirements of your city and any licensing needed to do specialized work. This includes plumbing or electrical. You should also request the contractor to include license information and numbers in the contract to guarantee its legitimacy.

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