Construction Cost Plus With Example In Clark
Category:
State:
Multi-State
County:
Clark
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract outlines the agreement between the Contractor and Owner to execute a construction project. It highlights the scope of work, specifying that the Contractor will provide all necessary labor and materials based on the Owner's plans and specifications. The document clarifies the Work Site location and the responsibilities regarding permits and soil conditions, indicating that any additional site work due to soil issues will be the Owner's expense. Insurance requirements for the Contractor are also specified, ensuring protection against potential liabilities. A key feature is the inclusion of a 'Cost Plus' payment structure, where the Owner agrees to pay the actual costs of materials plus a specified fee for services, which offers flexibility in budgeting. Changes to the project scope are permitted through written Change Orders, with costs for any changes to be borne by the Owner. The contract also stipulates late payment penalties and warranty limitations for the Contractor's work. This form is especially useful for attorneys, partners, owners, associates, paralegals, and legal assistants to ensure comprehensive understanding of obligations and protections involved in a construction project, facilitating smoother project execution and legal compliance.
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Construction Contractors: 10 Ways to Increase Your Company's Valuation Before Selling Avoid customer concentration. Collect Retainage and manage Accounts Receivable. Maintain a solid management team. Demonstrate your project history. Maintain a list of contracts. Maintain a list of bids. Save project estimate data.
