Cost Plus Contract In Costing In Bronx
Category:
State:
Multi-State
County:
Bronx
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The document outlines a Construction Contract that implements a Cost Plus contract in costing in Bronx. It details the agreement between the Contractor and Owner, specifying the scope of work, work site, permits, and insurance liabilities. The Cost Plus structure allows the Owner to pay the actual costs for materials plus an additional sum for the Contractor's services. This contract is interactive, enabling changes to the project scope through written Change Orders, allowing flexibility during construction. The form also covers late payment penalties and a limited warranty on workmanship for one year. For legal professionals such as attorneys, partners, and paralegals, this form is essential for structuring construction agreements that protect their clients' interests. It helps to clarify responsibilities, budget expectations, and ensures compliance with local regulations. Legal assistants will find it useful for ensuring all necessary details are included and recorded accurately, while owners can leverage it to understand their financial obligations in detail.
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FAQ
As a general rule, if the owner hired whoever drafted the construction plans, or if whoever drafted the faulty plans is an employee or agent of the owner, it is the owner who will be liable for defective plans.
