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| Types of contracts in construction projects |
There are different types of construction contracts, and their comparison is presented in this guide. A construction contract is an agreement between two or more parties to execute the construction works as per certain terms and conditions.
A construction contract contains general and special conditions of agreement, details of construction project work, their specifications, time limits, payments and penalties for delivery delays, etc. and ensures every party's rights and obligations. A construction contract document is a valid document that can be enforced under a certain authority or law.
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