A construction contract is a written document between a landowner and a general contractor in which the construction, renovation, transformation or other work on the land or land is owned. This document outlines the parties involved, the price to be paid for the services provided, the fees of each party and the construction dates that will begin and end. A construction contract should be used by a contracting party on both sides of the construction, renovation or modification process of a building or structure. Both the owners and the owners take advantage of the fact that they have a written agreement to serve as a plan to repair all the folds and finalize all the plans necessary for the construction. A construction contract is a reciprocal or legally binding agreement between two parties on the basis of guidelines and conditions recorded in the form of a document. The two parties involved are one or more landowners and one or more contractors. The owner, often referred to as an “employer” or “customer”, has full authority to decide what type of contract should be used for a specified construction period and to set legally binding conditions in a contractual agreement.  A work contract is an important document because it describes the extent of the work, risks, obligations and legal rights of the contractor and the owner. Duke and Carmen stated: “Cost-plus with GMP provides a cap on construction costs and total costs for which an owner is responsible. If the party that provides the work according to this method of price goes through GMP, it is responsible for such overruns… Cost-pluses with GMP and a cost-sharing agreement can encourage both parties to enter into a construction contract in the most efficient way possible.  A national construction contract is a contract comprising all work that should be performed for the construction of an existing or ongoing commercial or residential building in a given country; not foreign or international.
When an agreement is reached for the appointment of advisors, it is usually a designation, not a contract. For more information, see: Appointment of advisors. A contract is a legal agreement between two or more people for the exchange of goods or services. Contracts are applicable under contract law. There are many types of contracts that vary depending on the industry and the type of services provided. Generally speaking, an agreement is a declaration of intent between two or more parties, which has often been negotiated and defines their respective rights and responsibilities.