Contract Cost Plus Agreement With Gmp In Cuyahoga
Category:
State:
Multi-State
County:
Cuyahoga
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Contract Cost Plus Agreement with GMP in Cuyahoga is designed for parties involved in construction contracts, specifically tailored for residences. This form outlines the scope of work, work site details, necessary permits, and the contractor's responsibilities regarding site conditions and insurance. Key features include a cost-plus pricing structure, which allows the contractor to receive reimbursement for actual material costs plus an additional fee. It's vital for altering the scope of work, stipulating that any amendments must be documented through written change orders, with cost implications clearly defined. The document also enforces payment terms, specifying late fees and collection costs for overdue payments. Overall, this form serves as a crucial legal tool for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects, ensuring all parties understand their rights and responsibilities while providing clarity on financial aspects throughout the construction process.
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FAQ
As a general rule, if the owner hired whoever drafted the construction plans, or if whoever drafted the faulty plans is an employee or agent of the owner, it is the owner who will be liable for defective plans.
The major difference between lump sum and EPC is that, in EPC the contractor has the responsibility of design and construction. b. Where as in lump sum contract the design and drawings are prepared by the technical team of the owner.
