US Legal Forms
Forms Kit
Construction Contractor Forms
Multi-State
Construction Contract for Home - Fixed Fee or Cost Plus

Construction Cost Plus With Example In Chicago

Q: What are the costs in construction?

Construction costs (sometimes called hard costs ) are costs associated with the contractor and anything the contractor purchases. In other words, these are the costs of labor and materials.

Category:

Construction - Contractors

State:

Multi-State

City:

Chicago

Control #:

US-00462

Format:

Instant download

Description

The Construction Contract establishes an agreement between a Contractor and an Owner for the construction of a residence as defined in the plans and specifications. This contract includes a Construction Cost Plus payment structure, where the Owner pays the Contractor for actual material costs plus an additional agreed sum. An example in Chicago might include the Contractor charging $100,000 for materials plus a fee of $20,000 for services, resulting in a total payment of $120,000. Key features include the scope of work, site conditions, responsibility for permits, insurance requirements, and provisions for project modifications via Change Orders. Filling out the form necessitates detailing the work site and specific fees, while editing allows for customization to suit project needs. This contract is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for managing construction projects and outlines responsibilities and liabilities for both parties involved.

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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.

Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.

Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.

If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.

We protect your documents and personal data by following strict security and privacy standards.

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FAQ

Construction costs (sometimes called “hard costs”) are costs associated with the contractor and anything the contractor purchases. In other words, these are the costs of labor and materials.

Generally, labor accounts for anywhere from 20-35% of total construction expenses, while materials account for 65-80%.