As a general rule, a construction contract defines the obligations, responsibilities and responsibilities of each of the parties as well as that of an architect or a salaried engineer. Of course, the amount and nature of the compensation is an important element of such a contract. If you are about to launch a new construction project and have found the contractor you want to hire, you can use this customizable document to set the terms so that both parties are on the same page. As this is an accounting issue, you should contact an accountant or a certified public account to obtain information specific to your individual situation. In general, however, the achievement of turnover can be carried out either in proportion to the Percentage of Completion method or after the essential completion of the project according to the full method. Such a contract should describe the project, identify the parties, set the price and method of payment, set the completion date and indicate the other relevant documents and include them in the contract by reference. . . .