Whenever a construction company applies or bids for a tender and wins it, then the contract which it enters into with the government or other party is known as a construction tender contract. In such contracts, the titles given to the involved parties are Construction Company and client. These contracts are made with the aim of discussing and finalizing all the construction related and payment related details in a written and formal manner. The very legal nature of such a contract makes it so valued and important. A construction tender contract lays down not just the details of the parties that are involved but also of the construction work which the construction company will be doing for the client.
It is very important for any contract of this nature to have the payment terms made clear so that there is no dispute or confusion in the future course. These contracts must also consist of the roles of the parties as well as their rights and responsibilities. If any party acts against the contract, then it may have to face legal implications. The contract must be mutually agreed upon and should be signed by representatives of the parties at the end.
Sample Construction Tender Contract: