Cost Plus Building Contract With Example

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

Description

The Cost Plus Building Contract is a legal agreement between a contractor and an owner for the construction of a specific project, where the owner agrees to pay the actual costs of materials plus an additional fee for the contractor's services. This contract outlines key features such as the scope of work, work site details, and the responsibilities for obtaining permits. It stipulates that any changes to the project must be documented through written change orders, allowing for flexibility in the project’s scope. Additionally, the contractor is required to maintain insurance to cover various liabilities associated with the work. Payment terms specify that late payments incur additional charges, ensuring prompt payment. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who may be involved in construction projects, as it provides a clear framework for managing costs, responsibilities, and changes throughout the building process. Overall, the Cost Plus Building Contract is designed to facilitate transparency and accountability in construction agreements.