Cost Plus Contract In Construction In Arizona

• Category: Construction - Contractors
• State: Multi-State
• Control #: US-00462
• Format: Word; Rich Text

Description

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.