Real Estate Terms Glossary
What are Change Orders?
Change orders refer to a document that modifies the original agreement. The details of a specific change can be about the new terms or scope of the project. For instance, most property construction projects go through a process of change orders. In fact, the contract comes with specific requirements and guidelines on how to move forward with the change order.
Typically, construction contracts have clauses that address how to handle change orders.
Change Orders Examples
Examples of Change Orders include:
- Example 1: Updated schedule
- Example 2: Project information
- Example 3: Work details
- Example 4: Cost-structure of the change
- Example 5: New contract value
Here is a comprehensive article about the change orders.
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