Cost Plus Fee Construction Contract In Chicago
Category:
State:
Multi-State
City:
Chicago
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Fee Construction Contract in Chicago is a legal document outlining the terms of an agreement between a contractor and an owner for construction work. This contract details the scope of work, which includes providing labor and materials for the construction project as per specified plans. It identifies the work site and stipulates that the contractor will obtain necessary permits at the owner's expense. A key feature of this contract is the cost structure, where the owner agrees to pay the actual costs incurred by the contractor plus an additional fee. There are provisions for changes to the scope of work, requiring written 'Change Orders' for any modifications. The contract also addresses late payment penalties and warranty limitations, ensuring clarity on responsibilities and liabilities. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this form valuable for its comprehensiveness and clarity, streamlining the construction contracting process and mitigating potential disputes.
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