Contingency Agreement Sample For Construction In Pima

State:
Multi-State
County:
Pima
Control #:
US-00442BG
Format:
Word; 
Rich Text
Instant download

Description

The Contingency Agreement sample for construction in Pima is a legal document that outlines the terms under which a client retains attorneys to pursue claims related to construction disputes. Key features of the form include detailed sections on attorney fees, costs, and expenses related to the claim, and the powers granted to attorneys for executing necessary documents. The agreement specifies payment structures based on whether the case is settled out of court, goes to trial, or reaches the Supreme Court, ensuring transparency in financial obligations. It's essential to complete the areas for client and attorney details, including percentages for fee arrangements and timelines for costs. Attorneys and clients must understand the terms concerning lien rights and the withdrawal of attorneys, which can impact both parties' responsibilities. This document serves as an invaluable tool for various legal professionals in construction law. For attorneys, it provides a clear outline of their rights and responsibilities, while owners can use it to understand their financial commitments and outcomes. Paralegals and legal assistants can benefit from the structured format for organizing case details, ensuring all aspects are covered.
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  • Preview Contingency Fee Agreement with an Attorney or Law Firm
  • Preview Contingency Fee Agreement with an Attorney or Law Firm

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FAQ

A contingency can cover a range of unexpected costs during a construction project. Some examples are unforeseen site conditions, changes in project scope, unplanned repairs, delays in timeline and regulation changes such as building codes or zoning requirements.

This contingency is normally calculated as a percentage. If the phase is 100 days of effort, contingency at 20% would be another 20 days. As the project progresses, the level of risk reduces as the requirements and issues become known, so the percentage will be reduced.

Construction of Agreement . Each party acknowledges that it has read, requested and received any modifications to this Agreement needed to express the intent of the parties, and any ambiguity found shall not be construed for or against either party.

A contingent contract is a legal agreement in which the terms and conditions only apply or take effect if a specific event occurs. Essentially, the parties involved agree to perform actions or obligations based on the occurrence or non-occurrence of a particular event in the future.

What Is a Contingency? A contingency is a potential occurrence of a negative event in the future, such as an economic recession, natural disaster, fraudulent activity, terrorist attack, or a pandemic.

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Contingency Agreement Sample For Construction In Pima