What is a construction contract?

A construction contract is a mutual or legally binding agreement between two parties (one or more property owners and one or more contractors) which outlines the scope of work, risks, duties and legal rights of both the contractor and the owner.

A construction contract is a mutual or legally binding agreement between two parties (one or more property owners and one or more contractors) which outlines the scope of work, risks, duties, and legal rights of both the contractor and the property owner.