Contracts

Contracts with subcontractors | Development and Subdivision Contracts

Construction and Sales Contracts

1. Contracts are critical to the long term viability of this and any business

2. They establish responsibility and when used properly can limit your liability

3. They should force arbitration for dispute resolution

4. Contracts must be consistent in order to properly tie in together

5. Changes to contract terms must be initialed by both parties when amended (for example: if builder agrees to let subcontractor sublet work, that paragraph of the contract must be amended and both parties should initial change)

6. Attorney should review all contracts used in your business

7. All contracts should include a revision date and a central file should be kept to ensure that only the most recent version of a contract is being used by everyone in your organization

8. You should always remember if you have to go to court: “If it’s not in writing, it doesn’t exist”