What to Know about the ‘Contract’ in General Contracting

A transparent, clear and comprehensive contract with a general contractor is one of the most important things when remodeling or renovating your home. In fact, it is the foundation that makes all the difference between a project that will be a success, and one that won’t. a contract protects both the client and the general contractor, by setting out the budget, the property needs and more. At Larsa Development, we believe in doing things right. That’s why we like to have our clients in the know, when it comes to contracts.

Here are the 3 most important aspects to consider:

Scope of Work

Detailing the scope of work must be done in order to stay in control of both the timing and cost. Depending on your project needs, work details could be a short or a long list. The work for a room addition that needs subcontractors for example will be more much detailed than the scope of work for a straightforward new flooring install. Whatever your project is, setting out everything in writing provides a framework for both client and contractor. The details can include material specifications, types and colors of finishes, expectations about site maintenance and cleanup and setting out who is responsible for various permits and permission, and more.

Scheduling

Lacking a clear schedule is one of the most common sources of issues on a job. While delays due to material availability or weather may not be avoided, and minor delays are sure to occur on every job, having a clear schedule detailed in the contract is a must. Key dates to include are the expected finish date and important milestones along the way.

Payments

A payment schedule means that you and the contractor agree on when payments are to be made, which takes out the hassle from billing. Tying payments to milestones, completion percentages or delivery of products is one way to do it. No matter which route you choose, payments should be made on time in increments decided upon by both parties.

Final Thoughts

At Larsa Development, we pride ourselves on being transparent, cooperative and professional from start to finish. The incorporation has a prestigious portfolio of A-List clients in Toronto and the Greater Toronto Area (GTA). Our highly skilled staff, equipped with the latest tools and cutting edge technologies possesses all the necessary essentials to carry-out and deliver the highest standard projects that guarantees 100 % customer satisfaction. If you’d like to get work done and need a company with the qualifications to do so, contact us today and let’s get you a quote!