Renovation Contract
Renovation Contract
Renovation Contract
and
WITNESSETH: That
WHEREAS, the OWNER has offered for renovation works of its business
establishment, specifically: second floor composed of xxxxxxxxxxxxxxxxxx, Manila
heretofore referred as “RENOVATION PROJECT”.
NOW THEREFORE, in accordance of the foregoing premises and of the terms and
conditions as hereinafter set forth, the parties hereby agree as follows:
2. The CONTRACTOR shall provide for the plans, bill of quantities and specifications
as approved by the OWNER.
3. The OWNER shall secure necessary permits (renovation permits, occupancy permits
and other permits) including the documents required and fees in order for the
CONTRACTOR to carry out the implementation of the RENOVATION PROJECT.
4. The CONTRACTOR shall furnish all labor, tools, equipments, implements, items
and materials for the faithful completion of the RENOVATION PROJECT as per
approved plans and specifications.
5. The OWNER, however, reserves the right to provide or supply at his own expense,
necessary materials, as and by way of owner-supplied materials (OSM) scheme.
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6. The CONTRACTOR shall be responsible for any claims or damage to property which
may arise from the renovation work under the contract including claims for
damages arising to personal injury or death of its laborers or workers.
7. The CONTRACTOR shall not assign, transfer, pledge, sub-contract or make any
other disposition of the contract or any part of interest therein except with the prior
approval of the OWNER. Approved sub-contract shall not relieve the CONTRACTOR
from any liability or obligation under the contract nor shall create any contractual
relation between sub-contractor and the OWNER.
8. The CONTRACTOR shall finish and complete the Renovation Project referred to
herein within a maximum period of EIGHTY (80) calendar days commencing 20
May 2019.
CONTRACT PRICE:
xxxxxxxxxxxxxxxxxxxxxxxxx
SCHEDULE OF PAYMENTS:
The OWNER shall advance to the CONTRACTOR the amount of ONE MILLION
xxxxxxxxxxxxxxxxxxx equivalent to FIFTY (50%) in equal installment of
xxxxxxxxxxxxxxxxxxxxxxxxxxxx payable on 08 MAY 2019 and 15 MAY 2015 as down-
payment or the mobilization fund for the renovation project. The said amount shall be paid
to the Contractor upon receipt of the NOTICE TO PROCEED.
A ten (10%) percent of the total contract amount shall serve as the retention money
and shall be released by the OWNER to the CONTRACTOR after the completion of works,
final inspection and final acceptance and rectifications of all repairs, defects or deficiencies
found in the punch list during the joint inspection to be conducted by both Parties.
Based upon the Program of Works and milestone chart provided and attached
hereof, a Progress Billing will be submitted to the OWNER by the CONTRACTOR, and the
OWNER shall make progress payments to the CONTRACTOR as provided below and
elsewhere in the Contract Documents.
Progress Billing shall be made per program of works and milestone chart annexed
in this agreement, and the same must be received by the Owner or his authorized
representative in person who then shall effect payment thereof no later than seven (7)
working days from receipt of the progress billing, provided that for each Progress Billing,
the Contractor shall submit pictures or evidence required by the Owner to substantiate
the actual progress of the Project.
LIQUIDATED DAMAGES:
The CONTRACTOR shall pay liquidated damages to the OWNER for each day that
the completion date is later than the intended completion date. The applicable liquidated
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damages is at least one-tenth (1/10) of a percent (1%) of the cost of the unperformed
portion for every day of delay per room. The total amount of liquidated damages shall not
exceed ten (10%) percent of the amount of the contract. The OWNER may deduct liquidated
damages from payments due to the CONTRACTOR.
Should the OWNER require deviation from the plans and specifications or
any additional works to be done, the CONTRACTOR shall carry such requirement and any
costs agreed upon for such additional works shall be added to the contract price and
contract time schedules.
OWNER-CONTRACTOR RELATIONSHIP:
AMENDMENTS:
ADOPTION/ADDENDUM:
This contract hereby adopts and incorporates all the provision and warranty
clauses executed by the contractors, such as CONTRACT/NOTICE TO PROCEED and
other instruments and writing duly signed and executed by the parties to which are hereby
annexed hereof.
IN WITNESS WHEREOF, the parties have hereunto set their hands this
______ day of May, 2019, in Makati City, Philippines.
xxxxxxxxxxxxxx xxxxxxxxxxxxxxxxx
OWNER CONTRACTOR
_______________________________ ____________________________
ACKNOWLEDGEMENT
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BEFORE ME, a Notary Public for and in above jurisdiction on this ____ day of
______________________________, personally appeared, with their respective evidence of
identity, to wit:
persons known to me and known to be the same persons who acknowledge that the
foregoing contract is their own free and voluntary act and deed and the voluntary act and
deed of the organizations they represent. This contract consists of four (4) pages including
this page on which the acknowledgement is written.
IN WITNESS WHEREOF, the parties have hereunto set their hands and seal on the date
and place mentioned above.
NOTARY PUBLIC
Doc. No. ____________
Page No. ____________
Book No. ____________
Series of 2016