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A reservation agreement is a contract between a buyer and seller that promises the buyer a certain time period to buy before the listing goes public.
The Constructor agrees to the following: To supervise, manage and complete all the construction services as per this Agreement. To keep record of the documents in a safe place accessible only to the Constructor and the Client. To take all necessary precautions for all safety in general.
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A construction contract is a legally binding agreement between two parties where one agrees to provide construction services in exchange for compensation. It outlines the scope of work, materials to be used, timelines, payment schedules, and other terms and conditions related to a construction project.
A reservation agreement is frequently used in the sale of new homes when a buyer reserves the right to buy the property for a period of time (the reservation period) and pays a fee. The builder or developer states that it will not sell the property to another during the reservation period.
Download a free, simple construction contract template -- and learn the keys to writing an effective agreement that protects both parties.
