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Construction Contract

Construction Contract

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Published by bylead

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Published by: bylead on Feb 10, 2010
Copyright:Attribution Non-commercial


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Building or Construction ContractKNOW ALL MEN BY THESE PRESENTS :
This Agreement, made and entered into in the City of Davao, this
, 20
by and between
Roldan O. Roldan
, of legal age, OWNER, and
Alex E. Labiano
, of legal age and a resident of the same
hereinafter calledthe CONTRACTOR,
That for and in consideration of the sum of 
One Hundred ThousandPesos ( P 100
, 000.oo)
which the OWNER agrees to pay unto the CONTRACTOR,the said CONTRACTOR agrees and undertakes to construct and build for theOWNER a house of stong materials, the plan and specifications of which arehereto attached and made parts of this contract, marked Annex “A” and Annex “B”, respectively.The CONTRACTOR agrees to pay for all permits and licenses necessary forthis construction;That the OWNER shall pay the sum of 
Five Hundred Thousand PesosOnly (500, 000.oo)
to the CONTRACTOR in
Cash or in check
in equalinstallments as follows:
One Hundred thousand Pesos (P 100,000.oo): when the foundations, posts,floor joist, roof framing, and allbolts are in place, accordingto the planand specifications;One Hundred thousand Pesos (P 100,000.oo): when the corrugated G.I.Rooffing, window sills, windowheads, studdlings (interior and exterior),and the septic tank are completed, according tothe plan and specifications;
One Hundred thousand Pesos (P 100,000.oo): when all plumbing (with watertest), window grillings, doors,ceiling and first coating of painthave been duly done and constructed;One Hundred thousand Pesos (P 100,000.oo): when the paintings and all thedetails according to the planand specifications have been terminated;One Hundred thousand Pesos (P 100,000.oo): when the final certificate isissued and delivered to theOWNER.
The CONTRACTOR agrees to finish the construction of the said house within
Sixty (60)
working days, counted from the day the permit for the constructionhas been issued by the corresponding authorities; and should the saidCONTRACTOR fail to finish the house within the said period, he (theCONTRACTOR) shall indemnify the OWNER the sum of 
One Thousand TwoHundred Pesos Only P 1,250.oo
for each day of delay, as liquidated damages.Signed in
Davao City
day of 
. __________________________________________(OWNER) (CONTRACTOR)Signed in the presence of: ____________________ ____________________

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