Although some construction projects may be completed on a handshake and do not warrant a complicated and lengthy written contract, it is better to have a written agreement because an agreement establishes the obligation of the parties and helps avoid misunderstandings.
A successful construction project starts with having the right contract executed by the parties involved. A well-drafted contract clearly identifies the duties of the parties, allocates risk between the players, and curtails unnecessary disputes during and after the construction is done. A construction contract must address a wide range of issues; a comprehensive study of construction contracts is not possible here, however, below are some practical suggestions regarding negotiating and drafting a construction contract.