Construction Contract Cost Plus With Gmp In Cuyahoga
Category:
State:
Multi-State
County:
Cuyahoga
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract Cost Plus with GMP in Cuyahoga is a legally binding agreement between a contractor and an owner for the purpose of constructing a residential project. This contract emphasizes a cost-plus pricing structure, where the owner agrees to pay the contractor actual costs plus a specified fee. Key features include defining the scope of work, specifying the work site, establishing permit requirements, addressing soil conditions, and detailing insurance obligations. Additionally, it allows for changes in the scope of work via written change orders, with resulting cost adjustments. The contract includes provisions for late payments and warranties, limiting contractor liability to defects in workmanship for one year. This form is particularly useful for attorneys, partners, and owners who need a comprehensive framework for construction projects. Paralegals and legal assistants can assist in drafting and editing the contract to ensure compliance with local regulations, while associates can utilize it to facilitate negotiations between contractors and owners.
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