A Building Construction Agreement fixes the commencement date, stipulated completion date, project milestones, liquidated damages/penalty for delay, extension of time provisions with valid grounds (force majeure, owner-caused delays, exceptional weather, etc.), bonus for early completion (if agreed), insurance policies (CAR/ERECTION ALL RISK, workmen compensation, third-party liability), performance security/bank guarantee, material and workmanship warranties, defect liability/maintenance period (usually 12–24 months after handover).

"Get legal advice from the Trusted Property Firm in Pune and lawyers. Propdox specializes in property disputes and legal services."