TO BE PRINTED ON 100 RUPEES STAMP PAPER
CONSTRUCTION AGREEMENT
THIS CONSTRUCTION AGREEMENT IS MADE AND EXECUTED ON THIS …………….DAY OF …………. YEAR…………………(…./…./………) AT BANGALORE BY AND BETWEEN:
Mr. MONCY ABRAHAM, aged about 30 years ,son of Sri V.M Abraham, residing at # 18,
2nd Cross, Vivekananda Nagar, M.S. Nagar Post, Bangalore 560033, Proprietor M/S MM BUILDERS & DEVELOPERS, having its office at “MM Corner”, # 58, 2nd Floor, Banaswadi Main Road, Opp. State Bank Of India, Bangalore 560033, hereinafter referred to as the CONSTRUCTION CONSULTANT , which expression shall wherever the context so permits or requires, shall mean and include his heirs, successors, assigns, executers, administrators and legal representatives of the FIRST PART:
AND
iii) Mr./Mrs./Ms………………………………………………….. aged around ……….years, Son/daughter/wife of…………………………………..residing at …………………………………………………………………
Hereinafter referred to as the AGREEMENT HOLDER which term, wherever the contest permits, shall mean and include his/her/their heirs, successors, executors, assigns, legal representatives and administrators on the SECOND PART;
THE AGREEMENT HOLDER Mr./Mrs..Ms.………………………being the absolute owner/Attorney/GPA Holder of the owner of the piece of residential plot No………….at …………………………, has approached Mr. Moncy Abrahamof the FIRST PART to assist him as consultant to construct a residential building at the same plot as described above under certain terms and conditions as stipulated below.
NOW IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS
1. The FIRST PART has agreed to the proposal of SECOND PART to assist him/her/them as a CONSTRCTION CONSULTANT to build a residential building on the plot as described at Schedule-I.
2. The SECOND PART is fully responsible for legal aspects of the constructions and FIRST PART stands fully indemnified of all legal issues before/during/after the construction.
3. The FIRST PART will assist the SECOND PART in facilitating plan sanction/permissions from concerned government authorities and FIRST PART shall not be responsible for delays, if any.
4. The SECOND PART will not force/pursue the FIRST PART to do any act or not to do any act, which may jeopardize the structural soundness of the building. In the eventuality of such conduct on the part of SECOND PART, the FIRST PART will have the option to terminate the consultancy contract after intimating the SECOND PART through written/verbal/electronic media. On termination of contract, the SECOND PART shall clear all the dues within 30 days from the day of termination.
5. The FIRST PART shall provide consultancy to the SECOND PART on the following:
(a) To make the architectural drawing in consultation with architect and Structural Engineer.
(b) To provide Vaastu and Interior Design consultancy.
(c) To facilitate Plan sanction and other permissions from Govt agencies.
(d) To facilitate Electrical and Water connections.
(e) To select and procure all construction materials from the market at reasonable price.
(f) To arrange all requisite man power for construction activities.
6. The SECOND PART hereby agrees to pay consultancy fee of 15% or 12% or 10% accordingly on all expenses directly and indirectly incurred for this specific construction. The SECOND PART shall deposit 5% of the total estimated cost as ADVANCE with the FIRST PART, which shall be refundable/ adjustable at the end of construction.
7. The SECOND PART shall deposit estimated money for a specific task with the FIRST PART in advance which shall be settled at the month end. Normally, monthly cycle will be followed for all settlements except for certain large amounts where immediate payment is insisted by the supplier.
8. The percentage of consultancy fee decided is to be payable by 5th of every month. The FIRST PART shall be at liberty to charge an interest of 2% per month or terminate consultancy contract by giving 30 days notice in case recurrent lapses on the part of SECOND PART.
9. The SECOND PART shall raise objection/s relating to billings, if any, within 07(seven) days from the day it is received by him/her/them. In case of no objection, it will be presumed that it has been accepted and no objection will be raised at a later date/future.
10. The SECOND PART fully understands that construction market is subjected to vagaries like material costs going up and labor charges getting enhanced due to high demand or non-availability of materials or labor problems. This may lead to escalation of estimated budget prepared at the beginning of the construction. The SECOND PART shall not hold FIRST PART responsible directly or indirectly for changes/fluctuations. This agreement is entered into in good faith and mutual trust.
11. The FIRST PART shall take optimum care to ensure that materials stored at the site is protected and kept safe. In spite of precautions and safety measures certain pilferages can not be ruled out. The FIRST PART and SECOND PART act in good faith and repose trust in each other and FIRST PART eventually not be responsible for any theft occurring at the work site. The SECOND PART shall make adequate security arrangements by employing guards for protection of materials. At the request of SECOND PART, the FIRST PART may employ security guards from authorised security agencies for and on behalf SECOND PART. The SECOND PART will pay for the salaries of the security staff.
12. This agreement is valid for 24 (twenty four) months from the day of signing of this agreement and is extendable further on mutually agreed terms and conditions at a future date.
IN WITNESS WHEREOF THE PARTIES HEREUNTO HAVE SIGNED AND EXECUTED THIS AGREEMENT TO CONSTRUCT ON CONSULTANCY BASIS ON THE DAY, MONTH AND YEAR FIRST ABOVE WRITTEN.
WITNESSES:
1. FIRST PART
2. SECOND PART
