Cost Plus Contract For Contractors In Chicago
Category:
State:
Multi-State
City:
Chicago
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Contract for Contractors in Chicago is a formal agreement between the Contractor and Owner outlining the conditions of a construction project. Key features include a detailed scope of work, a specified work site, and compliance with local permit regulations. The document allows for adjustments to the project’s scope through 'Change Orders,' ensuring clarity in financial responsibilities for any alterations. It establishes that the Owner will compensate the Contractor for actual material costs plus a fixed fee for services. A late payment policy is also included, which outlines penalties for overdue payments. This contract is vital for ensuring all parties understand their obligations and protects against potential disputes. Attorneys, partners, owners, associates, paralegals, and legal assistants can utilize this form to safeguard legal interests during construction endeavors by ensuring clarity on costs, roles, and responsibilities.
Free preview
Form popularity
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.
