Cost Plus Contract In Costing In Chicago
Category:
State:
Multi-State
City:
Chicago
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Contract in Costing in Chicago is a legal agreement between a Contractor and an Owner for construction projects. This form details the scope of work, payment structure based on actual costs plus a fee, and outlines responsibilities regarding permits, insurance, and changes in the project scope. The Owner agrees to cover the costs for materials and services provided by the Contractor, facilitating transparency and flexibility in budgeting. Key features include provisions for late payments, warranty conditions, and specifications regarding soil conditions at the work site. This contract is especially useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it offers clear guidelines for managing construction projects while ensuring both parties understand their rights and obligations. Filling and editing instructions stress the importance of documenting changes through formal 'Change Orders' and specify that any estimations of costs need to be agreed upon in advance. This contract is tailored for construction scenarios where expenses may fluctuate, making it ideal for dynamic project management environments.
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