Cost Plus Without Upset

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

Description

The Cost Plus Without Upset clause in the Construction Contract is designed to establish a payment structure where the Owner agrees to pay the Contractor for the actual costs incurred in materials plus a predetermined fee for their services. This form is crucial for establishing clarity regarding financial responsibilities and helps mitigate disputes over construction costs. The form requires users to fill in the specific fee that will serve as the Contractor's compensation beyond the material costs. Key features include stipulations on handling changes to the scope of work through written Change Orders and provisions for late payments, which include a late charge and collection costs. It is imperative that the Owner assesses site conditions prior to work to avoid unforeseen costs. This form serves a variety of legal professionals, including attorneys, paralegals, and legal assistants, by providing a clear and structured approach to managing project finances. It is highly beneficial for Owners and Contractors alike as it clarifies expectations and financial obligations upfront, ultimately supporting smoother transaction processes throughout the project. Filling out this form accurately ensures that all parties are on the same page regarding costs and work scope.