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Home >> General User >> Draft Agreements>>Agreement between An Owner and a Contractor on Fee and Cost of Labour and Materials

Agreement between An Owner and a Contractor on Fee and Cost of Labour and Materials

The owners agree to pay to the contractors the remuneration of Rs. ............ and shall reimburse them the expenses incurred by them in connection with the completion of the said works and such costs to include the following items:
1. Material for construction such as cement, steel, lime, wood, plumbing materials, etc.
2. Wages paid to the workmen labour and employees employed for the execution of the works.
3. Salaries of artisans, overseers and engineers employed for the execution of the works.
4. Expenses incurred by staff, overseers and engineers for travelling, transporting and hotel bills in discharge of duties in connection with the construction.
5. Obtaining of permission and approvals from all the authorities concerned for the construction, supply of power, drainage and other services for the said works.
6. Cost of tools not owned by the workmen, canvas and plank, etc., consumed or rendered unfit during the execution of the said work.
7. Other incidental expenses relating to the execution of the said works.
The cost of the above items shall not be higher than the market rates paid in the locality of the work. The cost reimbursable to the contractors shall not include the salary of the regular employees of the contractors or interest on capital employed by the contractors for the execution of the said work.
The contractors shall keep full and regular account of all materials brought on the site, consumed and balance lying on the site. The said account books shall be open to inspection to the owners or their representatives at all reasonable times, who shall be entitled to take the copy of any document, register, correspondence or account maintained by the contractors.
The contractors shall submit a bill on 1Oth of each month to the architect showing in detail the moneys paid by them on account of the cost of the work during the previous month for which they have to be reimbursed under the agreement, with original receipted bills and original rolls for labour checked and certified by the contractor's Chartered Accountants.
The architect will certify the reasonableness of each bill supported by the vouchers of expenses and the certificate of architect as to the reasonableness or otherwise shall be final on the contractors. If the architect certifies that any bill submitted by the contractors is on higher side, then he (the architect) shall certify the market rate of the items of the said bill, (which shall be based on quotations from three reputed dealers) and the owners shall make payment of that bill in terms of the architect's certificate.
The owners will pay the amount of each bill within a period of 15 days from the date of receipt of the bill duly certified by the architect, in their office.
The contractors shall be responsible for injury to persons, animals or things and for all structural damages to the property which may arise from the operation or neglect of the contractors or their employees, nominees, sub-contractors or their employees, whether such injury or damages arises from carelessness, accident or any other cause whatsoever in any way connected with the carrying out of construction pursuant to these presents.