Cost Plus Contract In Construction In Arizona
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A Cost Plus Contract in construction in Arizona is a legal agreement where the Owner pays the Contractor for the actual cost of materials and labor, plus a predetermined fee. This type of contract is beneficial for projects where costs are uncertain, allowing flexibility during the construction process. Key features include a clearly defined scope of work, the necessity of obtaining permits, and provisions for changes to the project scope through written Change Orders. The Contractor is required to maintain proper insurance and the Owner must provide certain documentation like a boundary survey. Filling out this contract requires stating the specific project details, payment breakdowns, and conditions of warranty. It is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who may need to modify existing contracts or draft new ones. This contract ensures all parties understand their rights and responsibilities while providing a framework for managing potential cost overruns and changes in project scope.
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The three general categories of costs included in manufacturing processes are direct materials, direct labor, and overhead. Note that there are a few exceptions, since some service industries do not have direct material costs, and some automated manufacturing companies do not have direct labor costs.
Protect Yourself when Working with Custom Home Builders Only work with a licensed contractor. Get the contract in writing. Avoid “lump sum” bids. Talk to several contractors. Tie payments to deliverables. Get proof of payment to suppliers.
