OWNER-CONTRACTOR AGREEMENT

DATE:
ATTENTION:
PROJECT:
LOCATION:
SUBJECT:

The Contractor in consideration of the payment to be made by the Owner to the

Contractor of the sum of money hereinafter agrees to furnish all necessary materials,
labor and equipment for the satisfactory, faithful performance necessary to complete
the project including structural, finishing, electrical and plumbing installation therein in
accordance with the accompanying plans and specifications, bill of materials, scope
of works and other related documents as prepared by the Architect and approved by
the Building Official.

The Owner and Contractor has agreed upon the total construction amount of
__________ php (in figure) _________________________________________ (in
words). Down payment of __________________________ (40%) before
commencement of the project and 20% for every billing of the remaining 60%. The
Contractor does not advance any amount to buy materials or pay for the labor. The
construction is on straight contract; all excess materials shall go to the Contractor.
Any changes made by the Owner in the design and materials after implementation
shall be considered as change order and shall be computed as additional.

The construction period will be ____ days maximum unless otherwise requested by
the owner. If the Contractor fails to meet the maximum deadline of the project
deliverability, the Contractor will have to pay one tenth of one percent of the probable
construction cost as per Owner-Contractor-Agreement.

Storage area, power and water supply shall be provided by the owner.

If the Owner decides to stop or suspend the construction for more than 30days the
contract will be null and void. If both parties agreed to continue the construction the
contract and construction documents will be subject to change and review.

If the Owner fails to pay on the agreed time of issuance, the contract will be forfeited
or the Owner will have to pay one tenth of one percent of the probable construction
cost per day for damages.

If in case the delay of the project construction is caused by Owner’s deficiency on

providing the required supply and compensation from progress billing in order to keep
the project working on schedule the number of working days maybe adjusted with
proper evaluation and assessment.

If the guaranteed maximum cost is exceeded by not more than ten (10%) percent, it
is divided equally between the Owner and the contractor. However if the excess is
more than ten (10%) percent, the Contractor pays for all the extra costs in excess of
the ten (10%).
Upon completion of the project, the Owner and Contractor will have to inspect for
punch lists or defects and the Contractor will have to refurbish all on the list and must
be checked on by the Owner before turnover of the project to the Owner.

This Agreement represents the entire understanding of the parties hereto and
supersedes all prior written or oral agreements with respect to the subject matter
hereof. This agreement may be amended only in a writing signed by both parties.

The parties have executed this Agreement as of ____________ ____, 2013.

Owner:

__________________________
(SIGNATURE OVER PRINTED NAME)

Contractor:

__________________________
(SIGNATURE OVER PRINTED NAME)