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Contract Aggreement

This agreement is between an Owner and Contractor to perform construction work on the Owner's property. The Contractor will demolish existing structures, perform earthworks and foundations, structural work, plumbing, electrical, and architectural work according to the Owner's plans and specifications. The total contract price is listed and will be paid in progress payments of 10%, 15%, 15%, 30%, 20%, and 10% upon completion of specified phases of work. Upon completing all work, the Contractor will issue a Certificate of Completion stating the work follows the contract, and the Owner will make final payment within 60 days while retaining the right to address faulty or non-compliant work.

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Julius Batilo
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409 views2 pages

Contract Aggreement

This agreement is between an Owner and Contractor to perform construction work on the Owner's property. The Contractor will demolish existing structures, perform earthworks and foundations, structural work, plumbing, electrical, and architectural work according to the Owner's plans and specifications. The total contract price is listed and will be paid in progress payments of 10%, 15%, 15%, 30%, 20%, and 10% upon completion of specified phases of work. Upon completing all work, the Contractor will issue a Certificate of Completion stating the work follows the contract, and the Owner will make final payment within 60 days while retaining the right to address faulty or non-compliant work.

Uploaded by

Julius Batilo
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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AGREEMENT BETWEEN OWNER AND CONTRACTOR

(“OWNER”) AND _________________________________ AN INDIVIDUAL LOCATED AT


_______________________________(“CONTRACTOR”). OWNER AND CONTRACTOR MAY EACH BE
REFEREED TO IN THIS AGREEMENT INDIVIDUALLY AS A “ PARTY” AND

This Construction Contract Agreemenet is made as of the _____ day of ___________, 20___ by and
between _______, an individual located at __________________ (“Owner”) and ___________________
an individual located at _____________________ (“Contractor”). Owner and Contractor may each be
referred to in this Agreement individually as a “Party” and collectively as the “Parties”.

WHEREAS, Owner owns the property located at _____________________________________________


and desired to have certain work performed by Contractor at the Property.

NOW THEREFORE, in consideration of the mutual promises and for the other good and valuable
consideration exchanged by the Parties as set forth in this Agreement, the Parties, intending to be legally
bound, hereby mutually agree a s follows:

1. Scope Work. Contractor shall perform the following described work in accordance with Owner`s
contract plans and specification attached in this Agreement and any Change Order, as defined
herein at the Property.

(a) Demolition of existing structure


(b)

2. Contract Price and Payments. Owner agrees to pay Contractor for the work the total amount of
_________________in pesos. Payment of this amount is subject to addition or deduction in
accordance with any mutually agreed to changes and/or modification in the Work, and the other
document to which this Agreement is subject. Payment for the Work will be by cash, personal
check, cashier`s check/money order, credit or debit car or wire transfer, according to the following

(a) 10% Down payment upon mobilization


(b) 15% Progress Billing #1, upon Completion of Demolition of Existing Structure
(c) 15% Progress Billing #2, upon Completion of Earthworks and Foundations
(d) 30% Progress Billing #3, upon Completion of 1st and 2nd floor structural and Plumbing works
(e) 20% Progress Billing #4, upon Completion of Electrical works and Architectural works
(f) 10% Final Billing, upon Full Completion of the Project.
3. Certificate of Completion. Upon completion of the Work. Contractor shall notify Owner that
the work is ready for the final inspection and acceptance. When owner fins the Work Acceptable
and this Agreement fully performed, Contractor shall issue Owner a “Certificate of Completion”
stating that the work has been completed in accordance with the contract documents and the entire
balance of the Contract Price is due and payable. Owner shall make the final payment within 60
days after receiving a Certificate of Completion. Owner by making final payment waives all claim
except those rising out of: (a) any faulty Work appearing after completion; (b) any Work that does
not comply with the Contract Documents; (c) outstanding claims or liens. Contractor, by accepting
final payment, waives all claims except those previously made in writing, and which remain
unsettled at the time of acceptance

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