The list of payment dates and corresponding milestones is referred to as the Payment Schedule. Make sure that you are invoiced at each interval and that the receiver of the payment signs off upon receipt of each payment. A good practice is to take a photo of each check. In many states, the amount a contractor can request upfront as a down payment is limited.
Be sure to check local laws pertaining to the allowed amount and corresponding calculation. A request for an unusually large amount may be illegal, and is a sign that the contractor may be experiencing financial difficulties. An indemnity clause may protect a homeowner from liability should someone become injured on his property during the construction project. Check your state laws for the rules on construction contract indemnification provisions.
Defining a start date and the duration of a project is important for establishing expectations so that your contractor has an idea of the schedule you have in mind. Always include an agreed upon start date and an approximate end date for the project. Understandably, inclement weather may cause you to add a few days for exterior projects. A professional contractor should have no issue standing behind his work product. Always include a reasonable warranty section within a contract to make sure that the work is performed as expected.
An example would be a clause for the waterproofing of a deck. In states such as California, the rains fall only during the winter months.
The contract should also provide the contact information for each sub contractor and their license and insurance information. The contract should outline when progress payments should be made.
A good idea is to set progress payments to be made at the start of specific parts of the job rather than at the conclusion of a part of the job. The contract should contain an outline of when the work will be performed including the start and finish date. Of course these dates may change but there should be a clear system outlined that notifies you of any changes quickly and clearly.
As you can see, if all the appropriate clauses are included a remodeling contract can be quite lengthy. I rarely write contracts that are less the 4 pages and typically they are closer to 10 pages or more. It looks about as unofficial as can be. Is that a problem? What should a remodeling contract include? The safest bet is to have your attorney draw up a contract for you. But even if you choose a less formal approach, here are the basic elements Moskow recommends including—either by typing up a new document or just making handwritten changes on the existing form, as long as both you and the contractor initial each change.
A description of the project. The contract should include a project description that thoroughly outlines all of the work, materials, and products that will go into the job. That includes everything from what will be demolished to what will be constructed—and each different material and fixture that will be used, with its associated cost.
But if the project drags on for months, written start and end dates will help make -- or defend -- your case in the event of a legal dispute. Make sure the contract states that any changes affecting the cost of the job must be priced in writing and countersigned by both the contractor and homeowner before that work commences. Written change orders also help you update your budget and resist the frequent urge to expand the job.
Many remodeling contracts contain a clause that stipulates that an arbitrator, rather than a judge, will resolve disputes. This clause can save you time and money because a court fight is expensive, even if you win. Before you sign the contract, research the arbitrator named. Warranties often are loaded with exclusions and time limits that favor the contractor, not you. Frequently, state statues provide better protection, which you forfeit if you accept less from the contractor.
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