Construction Cost Contract Plus With Gmp In Florida
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Description
The Construction Cost Contract Plus With GMP in Florida is a comprehensive legal document that outlines the terms and conditions between a contractor and an owner regarding a construction project. This contract includes provisions for the scope of work, work site details, permit responsibilities, and soil conditions, ensuring that all parties are aware of their obligations. It provides a framework for changes to the scope, ensuring that any modifications are documented through written change orders and that costs are transparently handled. One notable feature is the contractor's fee structure, which may be based on actual costs plus a fee or a fixed fee, offering flexibility to owners. The document also ensures protection for the owner through insurance requirements and outlines warranty limitations for workmanship defects. This form is essential for legal professionals such as attorneys, partners, and legal assistants, as it provides clarity on contractual obligations and protects client interests. Paralegals and associates can utilize this template to draft contracts quickly while ensuring compliance with Florida regulations.
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FAQ
The GMP Budget is the amount the Trustees have budgeted for the construction Contract. The award of a construction contract is contingent upon receiving an actual GMP within the GMP Budget.
