This form is a Construction Contract that may be executed with either a cost plus or fixed fee payment arrangement. The form contains the following additional subject matters and complies with the laws of the State of Florida: scope of work, work site, warranty and insurance.
A construction cost plus contract template with cost is a legally binding agreement between a contractor and a client that outlines the terms and conditions of a construction project. This type of contract is commonly used in the construction industry when the scope and final cost of a project are uncertain or subject to change. The construction cost plus contract template includes all the essential components of a contract, such as the project description, payment terms, completion date, and warranties. It also contains specific provisions related to additional costs incurred during construction, such as labor, materials, and overhead expenses. There are different types of construction cost plus contract templates with cost that can be used depending on the specific needs of the project: 1. Cost Plus Fixed Fee (CUFF) Contract: This type of contract template includes a fixed fee determined at the outset of the project, in addition to the actual construction costs. The fixed fee provides the contractor with a predetermined profit amount for their services. 2. Cost Plus Percentage of Cost (CPC) Contract: In this contract template, the contractor is paid a percentage of the total construction cost as their fee. This percentage is negotiated and agreed upon between the contractor and the client. 3. Cost Plus Incentive Fee (CPI) Contract: This type of contract template includes a base fee supplemented by an incentive fee based on predetermined performance metrics. The incentive fee rewards the contractor for meeting or exceeding specific project goals, such as early completion or cost savings. 4. Guaranteed Maximum Price (GMP) Contract: Although not strictly a "cost plus" contract, the GMP contract is frequently used in conjunction with a cost plus agreement. This contract template sets a maximum price that the client will pay for the construction project, which includes the actual construction costs plus a predetermined fee. These different types of construction cost plus contract templates with cost provide flexibility and accountability in managing construction projects. By specifying the cost elements, fee structure, and performance incentives, both the contractor and the client can have a clearer understanding of their obligations and expectations throughout the project.
