Are you thinking of building your new home? Where do you start? A building project can be overwhelming as there are so many things to organise and people to contact such as the architect, the builder, the bank and the insurer.
It is important to ensure that you engage the services of reputable licensed professionals (see our article “Licensed Building Practitioners”) and that your construction contract is in the correct form for your particular building project and that the terms of the contract are fair and reasonable.
There are many forms of construction contracts some of which are standard industry forms. Others are prepared for a specific builder or building company. It is essential you enter into the type of construction contract which best suits your requirements. It is also important to understand the terminology used in the contract, the effect of a variation to the contract, the importance of making payments to the builder on time, and the suite of documents that form part of the construction contract, such as the general conditions of contract, the special conditions, and the guarantees and warranties (especially the exclusion clauses).
If you wish to engage a registered architect to prepare your plans and drawings or if you do not have the time or expertise to oversee your building project you could engage a contract administrator or “Site Licensed Building Practitioner”. For example, a registered architect or a chartered professional engineer who will oversee and manage the project on your behalf. We can assist you with reviewing that form of contract as well.
Fortune Manning can help you to understand your construction contract and negotiate the terms as well as assisting you with your funding requirements under the construction contract and any disputes that may arise out of the contract. For further information please contact one of our building and construction team experts.