Home Fee Cost Plus Contract With Gmp In Maryland

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

Description

The Home fee cost plus contract with gmp in Maryland outlines the agreement between a contractor and an owner for construction services. The document details the scope of work, work site, soil conditions, and permits. It emphasizes that the contractor will incur additional costs if soil conditions require extra site work, and mandates that the owner secures the necessary surveys and title opinions before starting the project. Notably, the contract allows for changes to the scope of work through written 'Change Orders' which may affect overall costs. It provides a payment structure based on either a cost-plus model, where the owner pays for actual costs plus a set fee, or a fixed fee arrangement. The contract also stipulates a late payment policy, including a 1% charge for delays. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it offers essential guidelines for executing construction agreements and managing liability issues effectively.