A definitions and constructions agreement is one that is entered into between the owner of a property and a construction company. The agreement defines the various terms and conditions and clauses part of the construction agreement between the two parties. It provides for definition of each and every aspect of the agreement made between both the parties.
This agreement defines the entire operational facts of the construction contract which specifies the various conditions that have to be fulfilled for the transaction between the two parties to be valid. Some of the points covered in this agreement are architectural design, process for surveying work, equipments to be made use of in construction, labor to be used during construction, stages of construction process, mode of payment of monies to the building contractor, name and address of the construction company, materials used for construction, date for completion of construction project, penalty for non-compliance of time and other terms of the agreement etc.
Definitions And Rules of Construction Agreement
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