Cost Plus Contract In Simple Words In Broward
Category:
State:
Multi-State
County:
Broward
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
A cost plus contract in simple words in Broward is a type of construction agreement where the Owner pays the Contractor for the actual costs of materials and labor, along with an additional fee for services. This contract allows for flexibility in the scope of work, accommodating changes through written 'Change Orders.' Key features include the responsibility of the Owner to provide necessary permits, handle soil condition assessments, and ensure project insurance coverage. Filling out the form requires identifying the Contractor and Owner details, specifying the project scope, work site, and payment structure. It's useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects as it clearly defines responsibilities, changes, and fee structures. This clarity helps protect all parties involved and facilitates a smoother construction process.
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FAQ
The three general categories of costs included in manufacturing processes are direct materials, direct labor, and overhead. Note that there are a few exceptions, since some service industries do not have direct material costs, and some automated manufacturing companies do not have direct labor costs.
