Cost Plus Construction Contract With Example In Chicago

• Category: Construction - Contractors
• State: Multi-State
• City: Chicago
• Control #: US-00462
• Format: Word; Rich Text

Description

The Cost Plus Construction Contract with example in Chicago is a legally binding agreement between a contractor and an owner, where the contractor is reimbursed for actual expenses incurred plus a fee for services rendered. This contract outlines the project scope, work site details, permit responsibilities, and insurance requirements. Notably, the owner can make changes to the work scope through written Change Orders, with costs adjusted accordingly. The payment model allows for flexibility, catering to varying project needs. Filling instructions emphasize entering specific information like the project description and site, while editing should be done carefully to align with any additional changes agreed upon. The contract also serves as a protective measure for both parties, detailing responsibilities and outlining warranty terms effective for one year post-completion. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it helps navigate construction regulations and ensures compliance with local laws in Chicago.