General Contractor Agreement Cost Plus Fee Formula
Description
How to fill out Florida Construction Contract Cost Plus Or Fixed Fee?
Locating a reliable venue to obtain the latest and suitable legal templates is half the challenge of navigating bureaucracy.
Identifying the correct legal forms requires accuracy and meticulousness, which is why it is vital to take samples of General Contractor Agreement Cost Plus Fee Formula solely from credible sources, such as US Legal Forms.
Once you have the form on your device, you can modify it using the editor or print it and complete it manually. Eliminate the stress associated with your legal documentation. Explore the extensive US Legal Forms collection where you can find legal templates, evaluate their pertinence to your situation, and download them instantly.
- Employ the library navigation or search function to find your template.
- Review the form’s description to determine if it meets the criteria of your state and region.
- Access the form preview, if available, to confirm the form is indeed the one you seek.
- Return to the search and identify the suitable template if the General Contractor Agreement Cost Plus Fee Formula does not align with your requirements.
- Once you are confident in the form’s relevance, download it.
- If you are a registered user, click Log in to verify and access your selected forms in My documents.
- If you do not possess an account yet, click Buy now to acquire the template.
- Select the pricing plan that suits your preferences.
- Proceed to the registration to complete your purchase.
- Finalize your transaction by selecting a payment method (credit card or PayPal).
- Choose the file format for downloading the General Contractor Agreement Cost Plus Fee Formula.
Form popularity
FAQ
A CPPC contract is one that is structured to pay the contractor his actual costs incurred on the contract plus a fixed percent for profit or overhead (that is not audited/adjusted) and which is applied to actual costs incurred.
A: As an example, a cost-plus contract may establish that the total estimated cost of a building project is $10 million plus a fixed fee of $1.5 million, roughly 15% of the total cost, as the contractor's profit. So the total expense to the buyer would be approximately $11.5 million ?the cost plus the fee.
The profit in a cost-plus contract is typically set as a fixed amount or a fixed percentage of the project's total costs. The percentage typically ranges from 10% to 20% of the total cost of the project.
In addition to this, the buyer also pays a pre-negotiated fixed fee, which represents the contractor's profit. The formula for cost plus fixed fee calculation is: Total Contract Value = Actual Costs + Fixed Fee.
Cost-Plus GMP Contract Agreements are ?cost reimbursement? contracts. In a Cost-Plus price arrangement, there is no set or Fixed Fee. In other words, the contractor is paid for the Cost of the Work it incurs to complete the project, plus a Fee, not-to-exceed the GMP (absent scope changes or extenuating circumstances).