Construction Contract Cost Plus With Guaranteed Maximum Price In Bronx
Category:
State:
Multi-State
County:
Bronx
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract Cost Plus with Guaranteed Maximum Price in Bronx is a legal document outlining the agreement between a contractor and an owner for a construction project. This contract specifies the scope of work, including labor and materials required for construction, as well as the work site location. Key features include provisions for permits, insurance requirements, and handling changes to the scope of work through written change orders. The contractor's compensation structure is based on the actual cost of materials plus a guaranteed maximum price, ensuring the owner understands potential costs. The contract also addresses late payment consequences and limitations on warranties for workmanship. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who need to navigate and enforce construction agreements. It provides clear guidance on responsibilities, ensuring compliance with local regulations and reducing disputes related to project costs and timelines.
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FAQ
Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and “Minimum Contract Value “means 10% of the Maximum Contract Value.
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.
