Construction Cost Contract Plus With Guaranteed Maximum Price In Contra Costa
Category:
State:
Multi-State
County:
Contra Costa
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Contract Plus With Guaranteed Maximum Price in Contra Costa is a legal document that formalizes the agreement between a contractor and an owner for building a project. This contract outlines the scope of work, specifying that the contractor will manage labor and materials for the construction as per agreed plans and specifications. Key features include provisions for permits, responsibility for soil conditions, and insurance requirements, ensuring that both parties are protected throughout the construction process. Additionally, the contract allows for changes in the scope of work through written Change Orders, providing flexibility while tracking costs. The contractor's fee can be structured as a cost-plus or fixed fee, and late payment penalties are included to enforce timely payments. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects, as it provides a clear framework for negotiation and compliance with legal standards. Furthermore, it simplifies the complexities of construction agreements, helping professionals effectively manage risks and obligations.
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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.
