Home Fee Cost Plus Contract Format In California
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Description
The Home Fee Cost Plus Contract Format in California is designed for construction projects and outlines the financial and operational relationships between contractors and owners. This form includes sections detailing the scope of work, work site, necessary permits, and soil conditions, which clearly define contractor responsibilities and liabilities. The contract allows for flexibility regarding changes to the scope of work, emphasizing that any modifications must be documented through a written change order. Importantly, it offers two payment structures: cost plus and fixed fee. Under the cost plus model, the owner pays the contractor for actual costs incurred plus an additional fee, while the fixed fee option requires a predetermined sum. The document also addresses late payments and warranties, providing a clear framework for financial and legal expectations. This form is especially useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction, as it aids in ensuring compliance with local regulations and helps manage risks associated with construction contracts.
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The contract should describe, in detail, the products to be used and how the work will be performed, i.e., size, color, who will be doing what work, amounts of materials provided, manufacturer model number, etc. There must be a detailed, written payment schedule in the contract.
It is essential to the existence of a contract that there should be: Parties capable of contracting; Their consent; A lawful object; and, A sufficient cause or consideration.
