Construction Cost Contract Plus With Guaranteed Maximum Price In Alameda
Category:
State:
Multi-State
County:
Alameda
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Contract Plus with Guaranteed Maximum Price in Alameda is a legal document designed for use between a contractor and an owner for residential construction projects. It outlines the scope of work, which includes the specific construction tasks to be completed, and the work site details. Key features include provisions for obtaining necessary permits, clarifying soil condition responsibilities, and addressing changes to the work scope through written change orders. Additionally, it specifies payment structures, either cost-plus or fixed fee, and establishes late payment penalties. This contract emphasizes the contractor's liability regarding insurance and warrants workmanship defects for one year post-project completion. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants engaged in real estate and construction law, providing a clear framework for negotiations and expectations between the parties involved.
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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.
