Before signing a construction contract between the owner and the contractor, it is necessary to ensure that all property is properly covered, so that there is sufficient legal protection. 4. The owner pays the builders a sum of Rs…………. whose owner pays each week to the owners the amount that can be sufficient to cover the costs incurred by the owners for the materials used in the works, verified and certified by the architect, Rs…… on the architect`s certificate that the work is completed up to the first floor, the additional sum of Rs ………… on the architect`s certification that the work is completed and that the balance must be paid on the architect`s certificate, that the above works have been completed in all respects in accordance with the agreement and that the owners have, at their own expense, removed all scaffolding, fencing, materials and unused waste from the premises and managed the bungalow for immediate use and use and management. However, an amount equal to 5% of the total amount of the contract payable by the owner under this contract is withheld by the owner as a deduction allowance which, after a period of 12 months from the date of delivery of that bungalow, is fully due and is due for occupancy. The owners agree and undertake to remedy any defects that can be found or found during the 12-month period. If the owners do not correct the defects found or refuse to correct the defects found by the owner within a fortnight of the date of notification to the owners, the owner has the right to have these defects corrected by other agencies that he deems appropriate for all the costs and risk of the owners and to use the deduction allowance; To the extent that, in the event of insufficient deduction pay in question, the costs, costs and expenses incurred by the owner to remedy the construction defects are not sufficient, the owners must correct the defect within 7 days of the owner`s written request, otherwise the owners are required to pay the same amount as the interest of 15% per year. Construction projects and buildings are governed by federal and regional/local laws. When the contractor employs additional workers during the construction project, they must comply with federal law requirements, such as the Fair Labor Standards Act (which cover minimum wage, overtime pay, youth registrations and labour standards for workers) and the Federal Family and Medical Leave Act (requiring insured employers to grant workers protected and unpaid leave for medical and family reasons). In addition, public buildings are required to meet certain standards of the Americans with Disabilities Act.
Parties should ensure that they review federal and local laws to ensure that their construction projects and work practices meet their requirements. 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. The total cost of the building – Rs. 70.67,000 (five thousand rupees only) (Fill the total cost of the building) work relating to the entire construction of this building according to the architectural and structural designs and according to the elements indicated and signed in the calendar (Fill the date of the signature).