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These are the essential clauses you should have in your standard contract. You should also beware that contracts are not "one size fits all," and you should have a customized contract with a customized warranty specific to the type of construction you do. If there is one idea you take from this guide – it is this – spend the time and money to draft a quality contract that you can use with your owners. There is no better way to ensure payment and enhance collection efforts than through a quality contract that has payment incentives with teeth in it to protect you in the event of a defaulting owner.
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