Cost Plus Construction Contract With Guaranteed Maximum Price In Bexar
Category:
State:
Multi-State
County:
Bexar
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Construction Contract with Guaranteed Maximum Price in Bexar is designed to outline the terms between a contractor and an owner for residential construction projects. This contract specifies the scope of work, work site, and the steps required for obtaining necessary permits, while clarifying that the contractor is not responsible for soil conditions beyond customary excavation and grading. It allows for changes to the project scope via written change orders, with the owner assuming responsibility for any cost increases due to these modifications. The payment structure can be either cost-plus, where the owner pays for actual material costs plus a specified fee, or a fixed fee. Additionally, the contract includes provisions for late payment penalties and a warranty that covers only workmanship defects for one year. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for managing construction projects while mitigating risks associated with cost overruns, liability, and compliance with local laws.
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FAQ
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.
Maximum Allowable Construction Area (MACA) “ the combined total of the Maximum Allowable PSO and the Maximum Allowable ISA. Maximum Allowable Unpaved Surface Area (USA) “ portion of the lot that shall remain unpaved and reserved for softscaping/planting.
