![]() Subcontractors negotiate with their subcontractors. ![]() The general contractor negotiates with their subcontractors. The owner negotiates with the general contractor. Then, at each level, owners, general contractors, and subcontractors negotiate their own contracts. Subcontractors frequently employ their own subcontractors, and such, until the project is finished. The general contractor will subsequently hire subcontractors to complete various aspects of the project. The general contractor could be a single person or a large general contracting firm. Any part of the contract can be negotiated - pay schedules, pricing, discounts - the idea is that the parties will come to an agreement that benefits both parties.Īn owner will hire a general contractor to oversee the entire construction project. When they negotiate the contract, they both set the terms. Standard payment schedule for the contractor Who sets contractor payment terms?Ī construction contract’s payment terms are determined by an agreement between a contractor and a subcontractor.What happens when payment terms aren’t met?.JCT Contract Payment Terms in Construction Projects.Common Contract Payment terms in construction.
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