Construction project contracts
The right contract for every job
With Knowify, your team can create, customize, and send out professional contracts for signature in just minutes without the help of a lawyer.
Knowify supports fixed price contracts for every type of job.
- Quickly create professional proposals that break down contracts by line item or display pricing as a lump sum.
- Take advantage of Knowify’s powerful change order management, so you’re covered whenever changes come up on your jobs.
- Bill your clients on a percentage of completion basis to better manage cash flow.
Cost plus contracts
Take control of your markup and ensure profit on every job with Knowify’s cost plus contracts.
- Combine time + materials, fixed pricing, and variable pricing as needed into a single contract for your customer, and tackle any type of job with ease.
Save time and stay on top of your maintenance or inspection schedule with Knowify’s maintenance contracts.
- Knowify’s maintenance contracts automatically schedule recurring visits for your team, and provide a detailed history of past work performed under the contract.
Fixed price with AIA-style invoicing
Knowify is the best solution for commercial GCs and those doing government work.
- Create your standard fixed price contract along with professional, AIA-style documents that take seconds to build.
- Knowify automatically handles reconciliation for change orders and track retainage for you, so you can focus on the job at hand.
- Retainage automatically syncs with QuickBooks, without the need for extra work or double-data entry. No other construction software offers this.
“Knowify helps us stay true to what we originally signed off on – rather than tracking it in an email. Before, a lot of these contract negotiations were just tracked via email.”
Office Manager, Serett Metalworks
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What is a construction contract?
A construction contract is a legally binding agreement between the contractor and the client that outlines the terms and conditions of a construction project. It includes important details such as the scope of work, project timeline, payment terms, and any other specific requirements related to completing the project.
The contract serves as a protection for both parties, ensuring that the project is completed as agreed upon and providing a framework for resolving any disputes that may arise during the construction process.
What are the main types of contracts used in construction?
- Fixed-price contract: These contracts establish a fixed price for the entire project. The contractor is responsible for completing the work within the agreed budget, regardless of any cost increases.
- Fixed-priced contract with AIA-style invoicing – A fixed price contract that uses the invoicing style and official forms maintained by the American Institute of Architects. It’s characterized by a schedule of value, payment applications, change orders, and retainage.
- Cost-plus contract: In cost-plus contracts, the owner pays the contractor for the actual cost of the project plus a predetermined percentage as profit. This type of contract is commonly used when the scope of work is uncertain or when changes are expected.
- Time and materials: Similar to a cost-plus contract, the client pays for the cost of the contractor’s time (labor) and the materials needed to complete the project. The time and labor costs are marked up to cover the contractor’s profit margin. Profit isn’t charged as a separate line item like in a cost-plus contract.
- Unit price contracts: Unit price contracts establish a price for each unit of work, such as per square foot or per hour. The final cost is determined by multiplying the unit price by the quantity of work performed.
- Maintenance – A contract to perform recurring maintenance work, typically at set intervals of time, for a set period of time, for a set price.
What is contract management in construction?
Contract management in construction refers to the process of managing contracts throughout the entire construction project. This involves overseeing the negotiation, creation, execution, and administration of contracts between various parties involved in the construction project, such as the owner, contractors, subcontractors, and suppliers.
The goal of contract management in construction is to ensure that all parties involved adhere to the terms and conditions outlined in the contracts, monitor progress, manage risks, resolve disputes, and ultimately deliver the project successfully.
Knowify’s contract jobs tool allows you to set up custom workflows for managing contracts throughout their lifecycle.