Overview
Background
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 Pegasus, Prime Contracts are an optional tool for your projects you can add a single Prime Contract for each project created.
Workflow: Draft vs. Approve Status
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.
Create a Prime Contract
Select your project from the My Projects page and navigate to your Project's Contracts page.
Select the Add Prime Contract button.
From the side blade:
Enter the Prime Contract Number (this can be a PO#, Contract number, etc.).
Select the Responsible Contractor from the dropdown list.
Enter the Title of the Prime Contract (if applicable, or you can use Prime Contract as a Title option).
Select the Save button.
The Prime Contract has been added as a Draft to your project and will display in the Prime Contracts grid.
Select the record in the grid row to Open the Prime Contract record to continue adding Prime Contract information to your Draft including:
Contract Pay Items (Bid Items)
Retainage Rules
Key Dates
Attachments
Continue below for the next steps in completing your project's Prime Contract in Pegasus: