Creating good subcontract and purchase order templates can simplify the project buyout process.
Question: I want to create a standard subcontract agreement for my projects. Can you provide some ideas on what to include in the standard agreement?
This is more than one Coachcast but I will give you some ideas on getting started.
- Standard agreements – the basic structure
- Consider a standard agreement that contains the Terms and Conditions
- Those are the basis of the contract or purchase order and cannot be changed without approval
- Add on the parts that differ by project in exhibits
- The key exhibits that I have in every agreement
- Scope of work – make this detailed
- Schedule – the when and how long
- Price and payment terms
- Getting started
- Look at some you already have for a model
- AIA has a good template as well
- Have you attorney review the Terms and Conditions
- Learn the clause for yourself as well
Do you have standard agreements?
Are your agreements up to date?
Do you use them properly and consistently?
How can I improve them?
If you don’t use standard agreements, start
Review what you have and update it