Sample Of Cost Plus Contract For Construction In Chicago

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

Description

The Sample of Cost Plus Contract for Construction in Chicago is a legal document that outlines the terms and conditions between a contractor and an owner for a construction project. Key features of the contract include a detailed scope of work, the work site location, and the responsibility for obtaining permits, which is assigned to the contractor. Notably, it specifies that the contractor has no liability for soil conditions at the work site, placing that responsibility on the owner. Changes to the project can be made through written change orders, with costs incurred as a result of changes being the owner's responsibility. Compensation to the contractor is defined as either a cost-plus model, where the owner pays the actual costs plus a fee, or a fixed fee model. Furthermore, the contract outlines provisions for late payments and warranties for workmanship. This contract is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a structured approach to managing construction projects, clarifying roles, liabilities, and financial expectations. It serves as a vital resource in ensuring legal compliance and protecting the interests of both parties involved.