Construction Contract Cost Plus Withholding In Cuyahoga
Category:
State:
Multi-State
County:
Cuyahoga
Control #:
US-00462
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Word;
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Description
The Construction Contract Cost Plus Withholding in Cuyahoga outlines the agreement between a Contractor and Owner for residential construction services. Key features include a detailed scope of work, work site information, required permits, and insurance obligations for the Contractor. The contract stipulates that the Owner is responsible for certain site conditions and expenses, specifically regarding soil conditions. It allows the Owner to make changes to the scope through written Change Orders, which could result in increased costs. Payment structures include a cost-plus payment option, where the Owner pays the actual project costs plus a set fee, or a fixed fee arrangement. The contract also specifies late payment terms and limited warranties for workmanship. This form is beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for construction agreements in Cuyahoga, ensuring compliance with local requirements and protecting the interests of all parties involved.
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FAQ
Retainage limits On public construction projects in Ohio, the amount of retainage is capped at no more than 8% of the total contract value. However, when the project reaches 50% completion and satisfactory progress is being made, no more retainage may be withheld for the remainder of the project.