Termination of Subcontract and Completion of Work by Contractor,
What is meant by Termination Of Subcontract And Completion Of Work By Contractor
Termination Of Subcontract And Completion Of Work By Contractor is the term used when the subcontractor completes his or her tasks given with all due diligence and does not delay his work or the work of the other subcontractors or even the contractor and all the tools, material, labor and implements etc are all supplied. Incase there is a lack of any of these things, the subcontractor should be informed in writing by the contractor and if the subcontractor does not fill the gap or the need in five days from the time the written notice is provided, the contractor has a right to take over the work of the sub contractor. He can also remove the subcontractor from any further work which is part of the agreement or the project or he may decide upon keeping him, to continue the rest of the work. Depending on what the contractor agrees and which works as most beneficial to him. Incase the contractor incurs any costs then the amount is charged to the erring sub contractor as part of the terms of the agreement and incase the agreement cost is not enough to cover the cost, then the subcontractor will along with his or her sureties be liable to pay the contractor for whatever is the difference which needs to be paid so that he is reimbursed in full. These are the terms of the Termination Of Subcontract And Completion Of Work By Contractor. So both the contractor and subcontractor are aware at the start of the project.
Termination of Subcontract and Completion of Work by Contractor, 10.0 out of 10 based on 3 ratings