Fillable Form General Contractor Agreement

What is a General Contractor Agreement?

A General Contractor Agreement is a formal contract between a company and a general contractor that details the construction, renovations, changes, or other labor that will be done on the company's land or property. This agreement specifies which parties will be engaged, the amount to be paid, the rights of each party, and the dates on which construction will begin and end.

A General Contractor Agreement helps ensure that an owner and a contractor are on the same page before working on a project. The contents of an agreement will vary depending on the type of project and the type of customer. Since the duties and schedule are mentioned in the contract, it can save the parties involved a lot of time and money.

A General Contractor Agreement includes the following information:

• Information about the contractor — The name, address, person in charge, and contact number of the contractor.
• Information about the company — The name, address, company owner or person in charge, and contact number of the company.
• Information about the worksite — The location of the property where the construction will take place.
• Information about the insurance for the contractor — Determines whether the contractor has liability insurance, and if so, which firm and how much it costs.
• License number — The general contractor's state license board number, which verifies that they are a licensed contractor.
• Contract price and payments — The overall cost of the job, as well as how and when payments will be made.
• Contract documents — any drawings, plans, exhibits, or other documentation that will be included in the contract
• Starting and completion dates — The dates by which the contractor must begin and substantially complete construction.
• Licensing and permits — The party in charge of getting the necessary licenses and permits.
• Subcontracts — Whether the contractor will hire subcontractors to help perform part of the contractor’s obligations

Where to get a General Contractor Agreement template?

If you are a contractor, you can create your own General Contractor Agreement, providing all the information needed for the completion of a contract.

General Contractor Agreement templates are available online. For your convenience, a General Contractor Agreement template that you can electronically fill out is available on PDFRun.

Who is responsible for the General Contractor Agreement?

Both the company and the contractor are responsible for the General Contractor Agreement. Usually, the contractor provides the document, but both the company and the contractor should save a copy of it for their records. In addition, both parties are involved in the negotiation of terms and must sign the agreement.

How to fill out a General Contractor Agreement?

Here is a detailed guide on how to fill out a General Contractor Agreement:

Company

Enter the name of the company involved in the agreement.

Contractor

Enter the name of the contractor involved in the agreement.

Item 1

Enter how many months or years will be the term of the contract. Then, enter the beginning and ending date of the contract.

Item 2

Enter the scope of work of the contractor.

Item 3

Enter all the work performed.

Item 4

Enter the total amount the owner shall pay to the contractor for the materials used and labor.

Item 5

Enter how the contract price should be paid.

Date Signed

Enter the date the agreement was signed.

Owner Name and Signature

Enter the name of the company owner and affix his or her signature.

Contractor Name and Signature

Enter the name of the contractor and affix his or her signature.

Why do you need a General Contractor Agreement

A General Contract Agreement protects the interests of both parties participating in construction work. It specifies the scope of your job, the payment conditions, and the processes for settling conflicts.

Without a formal contract, any conflicts or miscommunication about the project's work, timeline, lost or late payments, or other issues might escalate into a big legal dispute. It may be costly for both the property owner and the contractor. It might lead to errors or delays that are unfavorable to them. It imposes additional expenses for the owner since the property will be unavailable to use for its intended purpose for an extended period of time. Moreover, the contractor may also incur expenses for extended labor and the use of equipment.

A General Contractor Agreement protects everyone participating in a construction project's legal and financial interests. Neither the owner of the construction company nor the owner of the property should agree to start work without one.

Types of Construction Contracts

Here are the different types of Construction Contracts:

• Lump sum — It is the most common construction contract and is often referred to as the standard “fixed price” contract. A lump sum contract is one in which the parties agree on a fixed price based on the contractor's estimate of the costs of a finished product. Lump sum contracts account for all materials, subcontracts, labor, indirect expenses, profit, and other factors.
• Cost or cost-plus — In this contract, the owner compensates the contractor for all expenses spent during construction, such as equipment and labor. The owner also pays an agreed-upon profit margin, which is often a flat fee or a percentage of total costs.
• Unit price — In this contract, the parties place a price on each unit or relevant piece of work, such as by item, cubic yard, linear foot, or per hour.
• Time and Material — The client pays the contractor a negotiated cost for materials and labor. The contractor profits by charging the customer more than what they pay their personnel.

General Contractor Agreement Reminders

General reminders:

• Both parties must have a copy of the General Contractor Agreement.
• The General Contractor Agreement must be signed by both the contractor and the company.
• All the contract terms are followed by both parties.

For the contractor:

• Have a complete list of the services provided.
• List all the materials used for the service.
• Accurate and true information must be provided.

For the company:

• Pay all the amount stated in the General Contractor Agreement.
• Provide information about your company.