- Change Order
- A written authorization to modify the scope, price, or schedule of an existing contract β used interchangeably with 'agreement for work change' in construction and project management.
- Scope of Work
- The defined set of deliverables, tasks, and boundaries agreed in the original contract that determine what is and is not covered.
- Contract Amendment
- A formal modification to an existing contract that changes one or more of its original terms, requiring signatures from all parties to be enforceable.
- Consideration
- Something of value exchanged by each party β typically money, services, or a promise β required to make a contract or amendment legally binding.
- Force Majeure
- A clause that excuses a party from performance obligations when extraordinary events outside their control β such as natural disasters or government orders β prevent completion.
- Milestone
- A defined point in a project schedule at which a specific deliverable must be complete, often tied to a payment trigger.
- Lien Waiver
- A document in which a contractor or subcontractor gives up the right to file a mechanic's lien on a property in exchange for payment β sometimes issued alongside a change order in construction.
- Retainage
- A percentage of payment withheld by the client until the project reaches substantial completion, commonly 5β10% in construction contracts.
- Substantial Completion
- The point at which work is sufficiently complete that the owner can use the project for its intended purpose, typically triggering final payment and the start of warranty periods.
- No-Damage-for-Delay Clause
- A contract provision preventing a contractor from claiming additional compensation for delays caused by the owner β enforceability varies by jurisdiction.