Every year, more and more new businesses surface as people set out to be the boss and work towards financial independence. One growing business is the construction industry. While computers are quickly performing many on the job tasks in various fields, the building industry continues to grow with a need for new construction and home remodeling and repair. Many contractors are venturing out on their own to use their skills and start their own contractor business.
The difficult part for many contractors is the business end of the trade, as most of their work takes place in the field, not the office. When starting a new contractor business, there a mounds of necessary contractor forms that are used in every day business. If you are considering starting your own contractor business, it is necessary to familiarize yourself with the various contractor forms for office use.
Some of the most commonly used contractor forms include cost estimates, contractor agreements, acceptance of work after final inspections, change orders, release of payment, and subcontractor agreement forms. There are of course a variety of other forms that may be necessary and some that will change as the business changes and grows.
Cost estimates are contractor forms that outline exactly what work will be performed and what the cost of both material and labor is estimated to be. It is not a binding agreement, but just what it states – an estimate. When a customer has agreed that your business is offering the best estimate, a contractor agreement is drawn up and once signed by both parties, this contractor form becomes a binding agreement. The contractor agreement should outline how payment for the project will be made, whether half to start and the remainder on completion, or some other schedule of payment.
Other necessary contractor forms include subcontractor agreement forms. If you are the contractor bidding the job, but need to hire another party to complete any portion of it, you will need to have a subcontractor agreement. This form will state what part of the job you are hiring the subcontractor to perform, what you are paying as compensation, and what terms apply. Ultimately, you are held responsible by the customer for any subcontractors you bring to the job.
Contractor forms are available for purchase at a variety of office supply stores, contractor supply stores, and from online sources. Do your research to find a set of forms that best suits your start-up needs. In addition to the basic contractor forms, you may need to obtain licensing, bonding, and insurance before entering into any contractor agreements.