Construction Cost Plus With Cost-plus Pricing In Chicago
Category:
State:
Multi-State
City:
Chicago
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract outlines the agreement between the Contractor and the Owner for a project to be executed under a cost-plus pricing model in Chicago. This form includes essential sections detailing the scope of work, the work site, permit responsibilities, and insurance requirements. Notably, it allows for adjustments in the project scope via written Change Orders, ensuring that any changes are documented and agreed upon, along with their costs. The cost-plus pricing structure specifies that the Owner will compensate the Contractor for actual costs incurred, plus an additional fee, ensuring that all expenses are covered while providing an incentive for efficiency. Filling out this form involves inputting relevant project details, such as the description of work and payment terms. It serves as a crucial document for attorneys, partners, and owners to clearly outline responsibilities and expectations, protecting their interests and simplifying potential disputes. Legal assistants and paralegals can utilize this form to ensure compliance with construction regulations and maintain organized project documentation.
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FAQ
Protect Yourself when Working with Custom Home Builders Only work with a licensed contractor. Get the contract in writing. Avoid “lump sum” bids. Talk to several contractors. Tie payments to deliverables. Get proof of payment to suppliers.
