It is a legal contract between two parties where one is required to design and construct a construction related project for the other party. The major advantage of a design and construction agreement is that it allows the constructing party to bring forward their construction expertise with the consent of the other party.
This agreement includes all the terms and conditions pertaining to the construction project like the duration of the project in which design and construction process would get complete, the intermediate construction milestones, the clear statement of the responsibilities of designing & construction party, the remuneration offered, the schedule for the subsequent part payments of the remuneration, and the consequences both parties may face by not following the aforementioned terms of the agreement.
The information provided in the agreement and the restrictions pertaining to the construction & design project vary from project to project but there are certain minimum specifications which are quite necessary to be included in such agreements. Most importantly the major focus is always given on the conditions of the termination clause to secure the benefit of both the parties.
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