Overview

In Pegasus, Contracts are an optional tool for tracking project financial information in Pegasus. There are two tabs located on this page for:

Most Pegasus users will be using the Prime Contracts tab for their projects, however the Commitments feature is a way to capture the entire project budget and financials. Continue reading to learn more about Prime Contracts and Commitments, what they are, and how they are used in Pegasus.

A Prime Contract is a legal agreement between the party funding the construction project (Owner or Client) and the party ensuring completion of the work (General or Primary Contractor). In order to track Pay Item Quantities from the Daily Construction Report in Pegasus, you'll need to get familiar with setting up your projects with a Prime Contract and using the Prime Contract Bid Tab.

Users must have the Manager Permission set in order to create and modify a Prime Contract.

Prime Contracts, once created in Pegasus begin in the Draft Status. While in Draft Status, Manager permission users can modify/edit and delete Prime Contracts as needed.

Once the necessary information has been added to the Prime Contract, users with the Manager permission can Approve the Prime Contract.

Approving the Prime Contract prevents it if from further modification and contractor pay items will be displayed in the project to report against and create invoices or pay applications.

The agreements between owner and engineering firm, design engineer, material supplier, etc. Any miscelleneous contract for the project with the owner and a 3rd party. This plus the Prime Contract provide a comprehensive financial picture or project budget.