If the contractor does not complete the work within the time limit, the information must be made available to the owner without delay. The reason for the extension of the time limit should be communicated to the owner. A construction contract is an agreement between a client and a contractor that defines the details of a construction project. The details of a construction contract should include all aspects of the project, including payment, the nature of the work performed, the contractor`s legal rights and more. 12. The contract shall be executed in duplicate, the original shall be kept by the owner and the duplicate by the contracting authorities. 4. The owner pays the contracting authorities a sum of Rs…….. whose owner pays each week to the contracting authorities the amount sufficient to cover the costs incurred by the contracting authorities in respect of the materials used in the works, which have been verified and certified by the architect, Rs ……. on the architect`s attestation that the work is completed up to the first floor, the additional sum of Rs…….. on the architect`s attestation that the works are completed up to the second floor and that the balance must be paid on the architect`s certificate, that the above-mentioned works have been completed in all respects in accordance with the agreement and that the contracting authorities have removed and evacuated, at their own expense, all unused scaffolding, fences, materials and waste, and the bungalow for use and colonization and immediately the profession. However, an amount equal to 5% of the total amount of the contract to be paid by the owner under this contract is withheld by the owner as a withholding indemnity to be paid after a period of 12 months from the date of delivery of the bungalow fully and ready to be purchased. The contracting authorities accept and undertake to remedy all failures that may be found or noted during twelve months.
Where the contracting authorities do not remedy these defects or do not remedy the defects mentioned by the owner within fifteen days from the date of notification to the contracting authorities, the owner shall have the right to have the defects repaired by other entities which he deems appropriate at the expense and risk of the contracting authorities and to use the retention allowance; To the extent that the retention allowance is not sufficient to cover these costs, expenses and charges incurred by the owner to remedy the construction defects, the contracting authorities must remedy the failure within 7 days of the written request of the owner, failing which the contracting authorities will be required to pay them at the same time as the interest of 15% per year. 7. All taxes on contracts of enterprise that may be incurred shall be included in the rates indicated in Part 2 (list). All items not put out to competition are calculated on the basis of a real gain of +15% Information on the nature of the materials used for construction should be included in the agreement. The terms and conditions agreed by both parties should be reflected in writing. Details should be included in the agreement. 7. . .