What is the primary document regulating contractor's fees and payments?

The primary document regulating contractor's fees and payments is the construction contract. This document outlines the terms agreed upon by both the contractor and the client, including the scope of work, payment amounts, payment schedule, and any other financial obligations. The construction contract serves as a legally binding agreement that governs the financial relationship between parties throughout the course of the project. It provides clear guidelines on how payments will be structured, including milestones for payment based on completed work, ensuring both parties are aware of their rights and responsibilities.

While a payment schedule is an important tool that can be part of the construction contract, it typically functions as a subset of the contract rather than a standalone document. A project proposal outlines the initial ideas and pricing but is not a binding agreement like the construction contract. A lien waiver is a document that relinquishes the right to place a lien on a property for unpaid work, but it does not regulate fees or payments; rather, it is more of a tool used after payments are made. Therefore, the construction contract remains the fundamental document that regulates fees and payments between contractors and clients.