Construction Contract Cost Plus With Guaranteed Maximum Price In Arizona

• Category: Construction - Contractors
• State: Multi-State
• Control #: US-00462
• Format: Word; Rich Text

Description

The Construction Contract (cost plus with guaranteed maximum price) is a formal agreement tailored for construction projects in Arizona. It specifies the roles of the Contractor and Owner, detailing the scope of work, work site, and responsibilities of each party. A key feature of this contract is the cost plus structure where the Owner pays for actual materials costs plus a predetermined sum for services, providing transparency and flexibility in financial management. This contract also outlines procedures for obtaining permits, handling soil conditions, and ensuring necessary insurance coverage. Importantly, it includes provisions for changes to the scope of work through written Change Orders, allowing the Owner to adapt project specifications as needed. Additionally, the contract stipulates consequences for late payments and sets a warranty period for workmanship. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects, as it guides them in establishing clear expectations and responsibilities between parties. It also serves as a reference to mitigate potential disputes arising from construction processes.