Browse Forums Renovation + Home Improvement 1 May 14, 2012 8:51 pm Hi, Our bank have asked that we provide a building contract on our proposed house renos to determine finance approval - on the property's 'improvement value'. I explained that I felt asking a builder to spend hours writing a full contract isn't reasonable as we're not even guaranteed to get finance. They then said we could get a tender. What is this? How does it differ from a building contract? Thanks in advance. Re: Tender v building contract 2May 15, 2012 7:30 pm I imagine a tender is just their written quote. Bank wants a contract so they know the finace been sought matches the actual cost to build. @builderforlife Building inspector and passionate about construction When you need an expert to take a look. Re: Tender v building contract 3May 16, 2012 11:30 am Tenders and contracts are 2 completely different things. A tender is a request for a cost to provide a service or the supply of goods. It can be as simple as a verbal request for a price or complex to the point of a document that contains hundreds of pages. A tender is not normally legally binding. A contract is a legally binding document (once signed and witnessed) between 2 (or more) parties for the supply of goods or services (in this instance). You can purchase off the shelf contracts for construction works from the likes of HIA (NSW) or you can write your own. I suspect the bank would be looking for quotes so then can understand the costs involved. Depending on the value of works, 3 quotes would be appropriate. I prepared a cost plan for our bank, but then I used to do it for a living. Andy Re: Tender v building contract 4May 21, 2012 10:57 pm A tender is basically a written quote to do the job. A builder is a 'tenderer' who is 'tendering' on the project. Usually you would get a number of quotes or 'tenders' from builders and you select the winning tenderer/builder to do the project. On bigger projects, you may call for tenders in the newspaper, which means you are asking for builders to submit a price for the project. Hope that helps You talk about deletions, are they variations or PS and PC adjustments? pleas list them 1 16571 Hey. Head to a metal and decide on which profile you will use first. Profiles with larger corrugations can greatly change the appearance of the color in different… 0 3388 I've decided, after a period of confusion (my building broker told me it's probably not worth it to use a lawyer, but others have said it is a must) that I definitely will… 7 27958 |