Cost Plus Contract In Simple Words In Arizona
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A Cost Plus Contract in Arizona is a construction agreement where the Owner pays the Contractor for the actual costs of materials plus an additional fee for their services. This type of contract allows flexibility in project management as it accommodates changes during construction, requiring written 'Change Orders' for any modifications. The Contractor is responsible for obtaining necessary permits, but costs for permits are covered by the Owner. Insurance and soil conditions are also addressed, ensuring that the Contractor has coverage and that the Owner is aware of soil-related expenses. This contract includes a late payment clause and warranties for workmanship. The form is useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear structure for construction agreements and guides them in handling costs, changes, and responsibilities during the building process, promoting transparency and accountability.
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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.
