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
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Construction Contractor Forms
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Construction Contract for Home - Fixed Fee or Cost Plus

Construction Contract Cost Plus With Guaranteed Maximum Price In Travis

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

County:

Travis

Control #:

US-00462

Format:

Instant download

Description

The Construction Contract Cost Plus with Guaranteed Maximum Price in Travis is designed to establish an agreement between a contractor and an owner for construction services under a cost-plus pricing model. This contract allows the owner to pay the actual costs incurred by the contractor for materials and labor while ensuring that the total cost does not exceed a predetermined maximum price. Key features of the form include provisions for the scope of work, work site specifications, responsibility for permits, and conditions regarding soil conditions at the site. Additional sections cover insurance responsibilities, boundary survey requirements, change order protocols, and late payment terms. For attorneys, partners, owners, associates, paralegals, and legal assistants, this document provides a clear structure for managing construction projects and mitigating risks. It outlines both parties' rights and responsibilities, making it essential for legal professionals involved in real estate, construction law, or contract management. Thorough understanding and careful completion of this contract are vital to ensuring compliance and protecting the interests of all parties involved.

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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

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.

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.