16. Does the architect consider that the work carried out by the contractor is unsatisfactory, or that progress is slow or that it is likely that: the contractor will not be able to complete the work on time, the owner has the right to terminate the contract at the contractor`s risk by taking 15 days if he has the right to award the contract to agencies they deem appropriate and any cash loss or expense in that account, as the architect attests, is deducted from the money owed by the holder or recovered by the holder. If there are changes, they should be made in accordance with the agreement between the owner and the contractor. In most cases, there will be no change. The changes will be minor. For example, the layout of cabinets, wiring and the inclusion of additional power outlets and other aspects may be discussed by the owner, so that his interests are served by the contractor. As long as construction costs are within the price limit, there will be no difficulty in making changes. Without the signature of both parties, the contract is not a binding legal document. By signing the contract, both parties acknowledge that they agree to enter into this contract and to respect it as stipulated in the terms and conditions. Depending on their status, the licensee must provide their licence number.
Finally, the date on which the document is signed by both parties should also be mentioned as required. (9) The contractor works in coordination with other organizations working on the building. It gives them all cooperation and support. The completion date is not extended to this account. The contractor must rectify the damage caused by the building`s electricity, sewerage and water supply work, which must be paid accordingly. 1. The owners will build the building on the land in question in accordance with the plans, drawings, specifications and surveys, as established by the architect attached here and identified as Annex A, with the material of the highest quality and in the most essential and similar way to the worker and the satisfaction of the architect. The work contract is a contract executed by two parties, which can be executed either between the owner or contractor, or between the owner or the owner. After several meetings with different contractors/builders to build your dream home and through several building quotes, after which you choose the contractor you think is the right person for building your home in Bangalore.
If the compromise clause is mentioned in the agreement, the dispute should be settled out of court. You should understand that arbitration is the least expensive and billing will be done quickly. If you sign the agreement with the compromise clause, you do not have the right to take the matter to court. I very much appreciate the information about the agreement.