Commercial Construction Agreement by ReadyBuiltForms

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									COMMERCIAL CONSTRUCTION AGREEMENT THIS AGREEMENT is made at , ______________, effective , 20___, by and between ______________________________, (hereinafter the “Contractor”), and (hereinafter the “Owner” whether one or more.)


CONSTRUCTION: Contractor shall furnish all labor, materials, equipment and supplies for the construction and completion of for Owner located in the township/city of _____________, County of ________ and Street Address of ____________________________ (hereinafter the “Project”), in accordance with the provisions of this Agreement and the other documents referred to in paragraph 2 of this Agreement, (hereinafter collectively the “Contract Documents”). CONTRACT DOCUMENTS: This Agreement shall include the following “Contract Documents”, each of which has been initialed concurrently with the execution of this Agreement, in duplicate, by Contractor and Owner, and all of which are hereby incorporated herein by reference: (a) (b) (c) If any inconsistency shall exist between this Agreement, the Specifications and the Plans and/or any other documents or drawings, the terms and conditions of the Specifications shall control. The Specifications dated The Plans as shown on the drawings dated hereto. , , which are attached hereto. , , which are attached



CONTRACT PRICE AND PROGRESS PAYMENTS: (a) Owner shall pay Contractor the amount of $ , (hereinafter the “Contract Price”), for the Project in accordance with provisions of this Agreement and the Contract Documents, subject to adjustment by any properly made Change Order(s) and/or as otherwise specified herein. There shall be no retainage withheld. Owner has deposited earnest money with Contractor in the sum of $ deposit shall be applied to the Contract Price. . This



Owner shall make progress payments of the Contract Price to Contractor in accordance with the following schedule: (i) Upon substantial completion of the a sum equal to percent ( Upon substantial completion of , a sum equal to Upon substantial completion of a sum equal to percent ( %) of the Contract Price; and

%) of the Contract Price; and

(ii) Price; and (iii)

percent (

%) of the Contract


The remaining balance of the Contract Price and (any and all increased costs which Owner has not otherwise paid) upon Contractor’s substantial completion as set forth within paragraph 4 herein below.

Contractor shall notify Owner when any of the aforesaid payments become due and payable. Owner shall have a period of three (3) calendar days after Contractor’s notification, (hereinafter the “Inspection Period”), within which to inspect Contractor’s progress and fully pay Contractor the requisite amount. Owner shall fully and timely pay the requisite amounts prior to the expiration of 
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