Description and usage Letter of Intent (Construction) This Letter of Intent for construction work enables your contract to get underway before the formal agreement is signed. To avoid doubt, the letter sets out the key contract terms - price
- duration
- defects liability
- incorporated terms
- advance payment
- provision for performance bond
The letter authorises the contractor to carry out work up to a specified value before the formal agreement is signed. It is not a substitute for a formal agreement but is for use as an interim measure until the formal agreement has been signed. What's in it? - See detailed Explanatory Notes below
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