Contract Cost Plus Agreement With Example In Fairfax

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

Description

The Contract Cost Plus Agreement with example in Fairfax is designed for construction projects where the Owner compensates the Contractor for actual costs incurred, plus an additional fee for services rendered. This form outlines the duties and responsibilities of both parties, including the scope of work, work site, permit acquisition, and insurance requirements. Notably, it provides flexibility for the Owner to request changes to the project scope, which require a written Change Order, with costs agreed upon by both parties. The document stipulates that Owner will pay for actual construction costs plus a predetermined sum, ensuring clarity about financial obligations. Users, such as attorneys, partners, and legal assistants, will find this form beneficial for managing residential construction contracts, focusing on risk management and compliance with local regulations. Legal professionals can aid clients in drafting, negotiating, and finalizing agreements tailored to specific projects, helping to mitigate disputes and enforce protections for both Owner and Contractor. When filling out the form, attention should be given to specifying both the scope of work and the project costs accurately to avoid misunderstandings or additional expenses.