Construction Cost Contract Plus With Gmp In Clark
Category:
State:
Multi-State
County:
Clark
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Contract Plus with GMP in Clark is a legal document that outlines the agreements between a contractor and an owner for a construction project. Key features include a detailed scope of work, work site information, and requirements for permits. The contractor is responsible for obtaining necessary regulatory approvals and has no liability for soil conditions at the work site, which is a significant aspect for owners to consider. Changes to the project can be made through written change orders, ensuring that any alterations are documented and agreed upon by both parties. The contract allows for either a cost-plus payment structure or a fixed fee, allowing flexibility depending on the project needs. It also stipulates late payment penalties and warranty terms, providing protection for both parties. This contract is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for legal obligations and rights during the construction process.
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FAQ
The GMP Budget is the amount the Trustees have budgeted for the construction Contract. The award of a construction contract is contingent upon receiving an actual GMP within the GMP Budget.
