Types Of Construction Contracts Cost Plus In Chicago
Category:
State:
Multi-State
City:
Chicago
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The document is a construction contract that outlines the terms and conditions for a cost-plus construction agreement in Chicago. It defines the roles of the Contractor and Owner, focusing on the scope of work, work site, and the responsibilities each party has. Key features include the sharing of costs, a formal process for change orders, and a clause allowing the Contractor to charge for actual costs plus a specified fee. Additionally, it includes provisions for permits, insurance requirements, and warranties, ensuring the project's legal and financial aspects are clear. The form is designed for use by attorneys, partners, owners, associates, paralegals, and legal assistants, providing them a structured way to outline contractual obligations, ensuring compliance with applicable regulations and protecting their respective interests during the construction process. Users are instructed to fill in details like costs, scope of work, and payment terms, making it adaptable for various projects.
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Contract Types Comparison Party 1 offers Unilateral Services or goods that the other party requested, usually in an open request Implied Services or goods Express Anything Simple Something of value to the other party9 more rows •
10 Different Types of Contracts Type of ContractEveryday Use Implied Contracts Common in everyday transactions like dining out. Express Contracts Standard in formal business agreements. Simple Contracts Used for straightforward services or transactions. Unconscionable Contracts Often challenged in court for fairness.10 more rows •
