Construction Cost Contract Plus With Gmp In Allegheny
Category:
State:
Multi-State
County:
Allegheny
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Contract Plus With GMP in Allegheny establishes the terms and conditions for a construction project between a contractor and an owner. This form details the scope of work, including labor and materials required, and specifies the work site for the construction project. It outlines that the contractor is responsible for obtaining necessary permits and insurance, while also clarifying that soil conditions are not the contractor's responsibility. A significant feature of the contract is the provision for changes to the scope of work, which require written Change Orders and may incur additional costs. The contractor's fee can be structured as a cost plus or fixed fee, addressing how payments will be made. The form includes stipulations for late payment and a limited warranty on workmanship, enhancing clarity for both parties. This contract is essential for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a structured approach to construction agreements, helping to prevent disputes and ensure compliance with local regulations.
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FAQ
Disadvantages of GMP contracts Potential for disputes: While shared savings can be an advantage, it can also lead to disagreements over project management decisions, especially if there's a perception that savings are being prioritized over quality.
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.
