What is the maximum contract value?

Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and Minimum Contract Value means 10% of the Maximum Contract Value.

US Legal Forms
Forms Kit
Construction Contractor Forms
Multi-State
Construction Contract for Home - Fixed Fee or Cost Plus

Construction Contract Cost Plus With Guaranteed Maximum Price In Texas

Q: What is the maximum contract value?

Maximum Contract Value means the amount specified in the &quot;Limitation of Expenditure&quot; clause set out in the Contract; and Minimum Contract Value means 10% of the Maximum Contract Value.

Category:

Construction - Contractors

State:

Multi-State

Control #:

US-00462

Format:

Instant download

Description

The Construction Contract Cost Plus With Guaranteed Maximum Price in Texas is a formal agreement between a contractor and an owner for the construction of a residential project. This contract establishes a cost plus payment structure, where the owner agrees to pay the actual cost of materials plus a specific fee for the contractor's services. Key features include the scope of work, work site details, payment terms, and change order procedures. It ensures that all necessary permits are obtained and outlines responsibilities related to soil conditions and insurance coverage. Filing and editing instructions emphasize the importance of providing accurate project specifics and obtaining required permits before commencing work. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who are involved in construction projects. They can utilize this contract to clarify roles, manage project costs effectively, and maintain compliance with state regulations, thus minimizing potential disputes.

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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.

Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.

Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.

If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.

We protect your documents and personal data by following strict security and privacy standards.

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FAQ

The GMP Budget is the amount the Trustees have budgeted for the construction Contract. The award of a construction contract is contingent upon receiving an actual GMP within the GMP Budget.

Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and “Minimum Contract Value “means 10% of the Maximum Contract Value.