Does this seem like a reasonable schedule of payment?

[^woody^]

For knock throughs and extensive internal alterations, you could set a specific payment stage.

For variations, make sure that the contract defines a daywork hourly rate for various trades, and a percentage uplift to apply to materials to cover contractor profit and overheads. Any variations will be based on these rates.

The contractors should include these rates on their quote - make sure to ask for them

Then you agree the time and materials for any extra work as it arises. Ideally the contractor notifies you before hand, and estimates the cost before proceeding.

 

[indus]

Thanks Woody.

I'll discuss the rates with him tomorrow and incorporate them into the contract.

Many thanks

 

[limerockconstruction]

Thanks Woody. I agree about not being prescriptive, that's why I'm trying to come up with something that is fair for all parties. Would all the internal steels for knock through come at the 'internal stage'?

Lime, mine is similar to your current project ie about 90m2, part single (about a third) and part double. The contract price is £105,000 but this excludes windows and heating. It does include a couple of other things though ie knocking out an internal load bearing wall.

It's pitched roof, front elevation all brick but the side and rear extensions are block for ground but brick for first floor.

Luis, I've read that a contract should make a provision for variance. But how on earth does one agree on a price for things that are an unknown??

Thanks again.

Hi mate, sorry for the delay - i'd say that you're just about over the borderline and I would probably be looking at a midterm payment on the build part - so probably split the build into the obvious 2 phases of ground and first.

 

[indus]

Thanks Woody. I agree about not being prescriptive, that's why I'm trying to come up with something that is fair for all parties. Would all the internal steels for knock through come at the 'internal stage'?

Lime, mine is similar to your current project ie about 90m2, part single (about a third) and part double. The contract price is £105,000 but this excludes windows and heating. It does include a couple of other things though ie knocking out an internal load bearing wall.

It's pitched roof, front elevation all brick but the side and rear extensions are block for ground but brick for first floor.

Luis, I've read that a contract should make a provision for variance. But how on earth does one agree on a price for things that are an unknown??

Thanks again.

Hi mate, sorry for the delay - i'd say that you're just about over the borderline and I would probably be looking at a midterm payment on the build part - so probably split the build into the obvious 2 phases of ground and first.

No probs. Many thanks for your help