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 Oklahoma: scope of work, work site, warranty and insurance.
Cost Plus Fee Agreement With My Doctor
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How to fill out Oklahoma Construction Contract Cost Plus Or Fixed Fee?
How to obtain certified legal documents that comply with your state's regulations and formulate the Cost Plus Fee Agreement With My Doctor without consulting an attorney.
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This contract works best if the actual cost of the project is assumed to be below the projected cost. This type of contract focuses more on the quality of the project than on the overall cost of the project. If the budget for construction is low, this contract will fit. Simply put, it is a budget-friendly contract.
Cost Plus Contract Disadvantages For the buyer, the major disadvantage of this type of contract is the risk for paying much more than expected on materials. The contractor also has less incentive to be efficient since they will profit either way.
Cost Plus Contract Disadvantages For the buyer, the major disadvantage of this type of contract is the risk for paying much more than expected on materials. The contractor also has less incentive to be efficient since they will profit either way.
Disadvantages of cost-plus fixed-fee contracts may include: The final, overall cost may not be very clear at the beginning of negotiations. May require additional administration or oversight of the project to ensure that the contractor is factoring in the various cost factors.
plus contract is one in which the contractor is paid for all of a project's expenses plus an additional fee for the job. The additional fee is intended to be the contractor's profit.