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The company name, address, phone number and the full name and license number of the builder/contractor and/or the salesperson.
Detailed job specifications which include a description ( brand names, colors, grades, styles, and model numbers) of materials, a list of all costs spelled out clearly, and any architect's or engineer's drawings which are required.
Start and completion dates.  These should allow for any reasonable delays but should include a clause allowing you to withhold payment if work slows down for no apparent reason.
A statement that all required building permits and variances will be obtained by the contractor before work is begun.  The building permit is your protection.  An inspector will make sure the finished job meets all codes and safety standards, and makes the contractor responsible for corrections.  Check with your local City Hall to see who is responsible for pulling the permit(s).  A growing trend is that the homeowner pulls the permit-- so check to be sure!
A guarantee that the contractor carry liability insurance and has Workers Compensation coverage (in cases where there are more than 1 employee of the company), in case of accidents on the job.
A statement of warranty on the work.  Be sure it tells if labor and materials are guaranteed, and for how long.  A statement that cleanup will be done by the contractor should be allowed.
A provision for credits if there are large amounts of materials left over.  On the other hand, you should be prepared to pay for extra materials if the project takes more than anticipated.  Your contractor should provide you with a description of these extra costs in writing, so that there are no surprises on your final bill.
The terms of payment should be clearly stated in the contract.
A right to cancel clause.  If you are solicited and have signed the contract in your home, you have three days to cancel the contract if you change your mind.  You must send the contractor a registered letter stating you wish to cancel.
If everything in the agreement is satisfactory, both the contractor and the homeowner must sign and date the contract.  Any changes or revisions must be dated and initialed by both parties.
Be sure that the contractor gives you a copy of the contract, with any changes noted.
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