Construction Contract Cost Plus With Guaranteed Maximum Price In Hennepin

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

Description

The Construction Contract Cost Plus with Guaranteed Maximum Price in Hennepin is a legal document that outlines the agreement between a Contractor and an Owner for construction services. It details the scope of work, work site, and the responsibilities of both parties in obtaining necessary permits and adhering to soil conditions. A key feature of this contract is the cost-plus pricing structure, which allows the Contractor to charge the actual costs of materials plus an additional fee, while ensuring a guaranteed maximum price for the Owner, providing financial protection against exceeding budget limits. The document includes sections for addressing changes to the scope of work, specifying payment terms, late payment fees, and warranties on workmanship and materials. This form is particularly useful for users such as attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a clear framework for managing construction projects with built-in contingencies and protections. It simplifies the complexities associated with construction contracts, allowing legal professionals to serve their clients effectively by outlining rights, responsibilities, and financial obligations involved in construction projects.