The point is, construction contracts will help get you and your client on the same page. If you don’t have a construction contract that clearly outlines your payment schedule, your client can argue that they don’t have to pay you by any specific date-which can wreak havoc on your business’ finances. Or let’s say you’re struggling to collect payment from a client. Without that contract in place, you can run into issues if either party has a dispute.įor example, without contract documents outlining the project’s scope, you might run into a situation where a client insists on additional construction services-without paying for them. Having a legal construction agreement in place offers a layer of protection for both the contractor and the client.Ĭoncrete contracts help protect your business and your client over the course of the project. Regardless of the project or client, it’s crucial to have a concrete contract in place from the beginning. For example, your contractor agreement for a residential client would typically look different from a commercial client contract. The contents of the agreement will depend on the type of project and the type of client. And why it’s so important.Ī construction contract is a legal document that outlines, in detail, the parameters of a construction project. Before we dive too deep into construction contracts, let’s take a moment to define what exactly it is.
What’s a Construction Contract-and Why Is It Important?įirst things first.
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