If the “estimate” is presented in writing as the cost of the job, with a description of the work, and signed by both you and the contractor it is a binding contract with a fixed-price bid. There may be language in the contract that allows the contractor to modify the price for specific reasons, such as hidden conditions. … See more In other cases, the estimate is just what it sounds like, an approximate guess like an estimate of your weight (often low than the reality) or the length of a fish (often higher). … See more If you’re not sure whether an estimate is a fixed-bid or a best guess, then by all means ask for clarification. If it is a fixed bid, get it in writing in … See more We recently had a gas line run for a gas fireplace. The work was done by the regional gas company, based on a written estimate of over $1,000 for a crew of two for four hours. Just to be clear, we contacted the gas … See more WebFeb 10, 2024 · 6. Other estimates for other direct and indirect costs. What is a Construction Contract? A construction contract is a legal document reflecting an accepted offer. As the general contractor, it means you promise to do the scope of work specified and that the project owner promises to pay you the agreed-upon sum.
Understanding Contractor Estimates, Inspections, & Consultations
WebSep 6, 2024 · An "estimate" or a "quote" is non-binding, and should be just a rough guess at what the job will cost. A "contract" shows an exact price, and once both parties sign, they are obligated to go ... WebUsing MyTravelers Repair Network for Property to Find a Reputable Contractor. After a property loss, you need a contractor you can trust. Together with Westhill, MyTravelers Repair Network for Property can now provide you with a simple, no-cost and fully digital experience that makes finding contractors for property repairs easier. examples of computer worms
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WebFeb 5, 2010 · An estimate is an estimate provided to you to allow you to make a decision on whether or not to go ahead with a project. It is not legally binding. However, if you … WebAug 29, 2024 · A contract is legally binding, in contrast to an estimate and a proposal, which can be altered or abandoned at any moment. Conclusion The easiest method to ensure that your client completely understands the payment terms and conditions of your collaboration is to include an estimate disclaimer in the paper that you provide them with … WebFeb 2, 2015 · A non-binding estimate is not a bid or contract. Your mover provides it to you to give you a general idea of the cost of the move, but it does not bind your mover to the estimated cost. You should expect the final cost to be more than the estimate. ... If your total bill is 110 percent or less of the non-binding estimate, the mover can require ... examples of computing platforms