Cost Plus Contract In Simple Words In Bronx

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

Description

The Cost Plus Contract is a construction agreement used in the Bronx where the Owner agrees to pay the Contractor for actual costs of materials plus a predetermined fee for services. This contract includes sections detailing the scope of work, work site, required permits, soil conditions, insurance obligations, and procedures for changing the scope of work. It requires written change orders for any modifications, ensuring clarity on costs. The Contractor must maintain insurance coverage and is not responsible for soil conditions that affect the project. Key features include payment terms, late payment penalties, and a warranty limited to one year. This form is helpful for Attorneys, Partners, Owners, Associates, Paralegals, and Legal Assistants as it outlines responsibilities and protects against cost overruns or disputes during construction projects.