Renovation Contract for Prefabricated Panel Houses

A renovation contract for prefabricated panel houses should include the following key elements:

I. Contract Subject Information
The identities of both parties, Party A (the client) and Party B (the contractor), must be clearly specified. Party A should provide their name, ID number, contact address, and phone number; Party B should provide their company name, legal representative, contact address, and phone number. This section ensures the legitimacy and effectiveness of the contract parties, facilitating subsequent performance and accountability.

II. Renovation Scope and Requirements

1. Scope of Renovation: The specific parts of the house and projects to be renovated should be listed in detail, such as the renovation of the living room walls and floors, kitchen plumbing and electrical work, and bedroom door and window replacements, to avoid disputes arising from vague descriptions.
2. Renovation Requirements: Quality standards should be clearly defined, including material brands, specifications, and models that must comply with national standards and Party A's requirements. For example, the wall flatness error should not exceed 3 millimeters, plumbing and electrical installations should comply with the 'Residential Decoration and Renovation Engineering Construction Specifications,' and acceptance criteria for concealed works should be specified.

III. Contract Price and Payment Terms

1. Total Price: The total contract price should be clearly stated in both words and figures, and it should be noted as a fixed price that will not be adjusted for any reason other than changes requested by Party A.
2. Payment Milestones:
   • Advance Payment: 20%-30% of the total price should be paid within 3-5 working days after contract signing.
   • Progress Payment: Payments should be made according to project milestones, such as 30% after the completion and acceptance of plumbing and electrical work.
   • Final Payment: 95% of the total price should be paid within 5 working days after the entire project is completed and accepted.
   • Warranty Deposit: The remaining 5% should be held as a warranty deposit, which will be paid without interest after the warranty period (usually 12-24 months) expires and no quality issues are found.

IV. Rights and Obligations of Both Parties

1. Party A's Rights and Obligations:
   • Rights: Supervise the construction progress and quality, and request reasonable rectifications.
   • Obligations: Pay fees as agreed and provide construction conditions (such as access to water and electricity and site clearance).
2. Party B's Rights and Obligations:
   • Rights: Receive payments as per the contract.
   • Obligations: Construct according to standards, accept supervision, assume responsibility for quality and safety incidents, and provide free maintenance during the warranty period.

V. Other Clauses
Additional clauses may include liability for breach of contract (such as penalties for delays), dispute resolution methods (such as litigation or arbitration), and conditions for contract modification and termination to ensure the completeness of the contract.

Notes: The contract should be formulated in accordance with the 'Civil Code' and relevant regulations, and it will take effect after being signed and stamped by both parties. It is recommended to have the contract reviewed by a legal professional to mitigate risks.