Construction Contract Cost Plus With Gmp In Broward
Category:
State:
Multi-State
County:
Broward
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract Cost Plus with GMP in Broward serves as a formal agreement between the contractor and the owner for construction services. Key features include defining the scope of work, detailing the work site location, and specifying that the contractor will handle permits and insurance. This form emphasizes a cost-plus structure where the owner pays the actual costs incurred by the contractor plus a predetermined fee. It includes provisions for changes to the work scope through written change orders, the responsibilities regarding soil conditions, and warranties for workmanship. It is essential for attorneys, partners, owners, associates, paralegals, and legal assistants to understand this contract to ensure compliance and protection of interests in construction projects. The form is useful for navigating project costs and legal obligations, making it a vital reference for managing construction agreements effectively. Users can fill in specific details such as contractor names and cost estimations, ensuring clarity in contractual expectations.
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FAQ
Disadvantages of GMP contracts Potential for disputes: While shared savings can be an advantage, it can also lead to disagreements over project management decisions, especially if there's a perception that savings are being prioritized over quality.
