Do you need the advice of a lawyer that is trained in Ohio Contract Law? The typical use of the term "construction contract" is defined as an agreement between two parties that there will be a specific job performed for which the other party agrees to pay. There are standards that must be adhered to for the contract to be considered valid. For a construction contract to be valid there must be a determination that the parties that entered into the agreement, and the terms and conditions of the contract, are in accordance with the local, state and federal laws.
Listed below are some of the key elements that need to be defined in the creation of a construction contract:
- The first element of the construction contract is the form and method of payment: Precisely when and how the payments are to be made; The parties that will be authorized to accept the payment; How the form of payment is to be calculated.
- The next element that needs consideration are the contract documents: specific documents such as drawings, addendums, and specs need to be defined and provided and listed to support the contract.
- Another very important element is change orders: During the term of a contract, there are usually several changes to the construction project that need to be made. There should be a clear and concise definition as to who the authorized parties to permit changes will be; what forms and documents will be needed to approve the changes, the time required to perform such changes, and methods of resolution should the changes not be performed in a cost effective and timely manner.
- Lastly, the schedule of the work: Many construction projects have unexpected and unforeseen delays due to bidding, permits, easements and the requirements of contract approvals. In the event that there are delays, and there typically are, then it is equally as important to detail the schedule term in the contract in order to accommodate changes.
When one of the parties do not fulfill their obligations, as per the requirements as outlined in the contract, then there is a breach of contract. Once there is a breach of contract by one of the parties, then the party that has suffered from the breach, is entitled to receive either damages or an award from the party that caused the breach. In the event that there is a breach of contract, then there may be a release from further obligation to the contract.
Are you in need of legal advice from a lawyer with experience in Ohio contract law?
Contact the Law office of Tomb Roberts & Bucio, LLP in regards to your Ohio contract law matters today.