A property management contract in the construction industry is a written agreement between the responsible parties involved in a construction project. It outlines the terms and conditions that will govern the project, and is essential for the success of the construction.
A property management contract in construction can include:
Contract management - The process of overseeing and administering the contract, including negotiating terms, monitoring compliance, and resolving disputes.
Quality control - Ensuring that the project meets quality standards.
Budget accountability - Ensuring that the project stays within budget.
Scheduled compliance - Ensuring that each stage of the project is completed on schedule.
In India, all construction contracts must comply with the Indian Contract Act, 1872, which specifies the requirements for contracts.
