Construction Cost Contract Plus With Guaranteed Maximum Price In California
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The construction cost contract plus with guaranteed maximum price in California is a formal agreement between a contractor and an owner aimed at defining the scope, terms, and conditions for a construction project. Key features of this contract include a clear scope of work, responsibility for obtaining necessary permits, handling soil conditions, and stipulations regarding insurance coverage. Additionally, it provides a mechanism for changes to the project scope through written change orders, ensuring that any modifications are formally tracked and budgeted. The contract outlines payment structures based on either cost plus or fixed fee arrangements, including provisions for late payments and contractor warranties. It is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a comprehensive framework to mitigate legal risks, facilitate clear communication among parties, and ensure compliance with relevant California construction laws. Users can fill in specific project details, ensuring that the agreement is tailored to their unique project circumstances while maintaining legal validity.
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