Time And Materials Construction Contract
This template is a Time and Materials Construction Contract designed to formalize an agreement between a company and a contractor for a specific construction project. It details the project's scope, payment terms for billable hours and materials, and sets limitations on overall costs and project duration. All changes to the agreement require written consent from both parties.
Time and Materials Construction Contract
This agreement is made on [date] between [name of company], hereafter “Company,” and [name of contractor], hereafter “Contractor,” regarding the [name of project] (hereafter “Project”) construction project:
The Project will begin on [date 1].
The Project will include/incorporate the following elements and restrictions:
[requested]
[requested 1]
[requested 2]
[restriction]
[restriction 1]
[restriction 2]
The Company will pay the Contractor [hourly rate] for billable hours. Billable hours include [billable activities]. It does not include: [non-billable activities]. The Company will not pay labor rates after [number] hours unless the Company and Contractor agree on additional hours for changes or unexpected obstacles.
The Company will pay the Contractor [amount] for materials.
Time and materials shall not exceed [amount 1] and [date 2]. If they do, the Contractor will be responsible for costs.
Any and all changes must be agreed upon by the Company and Contractor in writing.
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[company] |
| [date 3] |
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[contractor] |
| [date 4] |
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