Construction is many things. To a family or business entrepreneur, it can centrally spell a new home or business headquarters, respectively. To a contractor, it spells business opportunity. To a lender, it brings in profit through financing and interest charges. To an insurer (as well to all the aforementioned parties), it brings an element of risk owing to many factors.
One of those factors is unquestionably the contract that is negotiated and executed between parties involved in a construction project.