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Construction Contract for Home - Fixed Fee or Cost Plus

Construction Cost Plus Withdrawal In Florida

Q: What is the prompt payment act for contractors in Florida?

Payment for private projects After a contractor has completed a construction project and upheld the terms of its contract, the owner of the property receives a request for payment. Under the provisions of The Florida Prompt Payment Act, the owner must provide payment within 14 days once that request is received.

Category:

Construction - Contractors

State:

Multi-State

Control #:

US-00462

Format:

Instant download

Description

The Construction Contract template outlines the agreement between a Contractor and Owner for a residential construction project in Florida, emphasizing a cost-plus withdrawal payment structure. Key features include detailed sections on the scope of work, work site, and permitting responsibilities. It requires the Contractor to address soil conditions and establishes insurance obligations to protect both parties. The form allows the Owner to request changes to the project via written change orders, with costs being adjustable based on these modifications. A significant component is the Contractor's fee, which stipulates payment for actual costs plus a specified amount for services. This provides clarity on payment procedures and consequences for late payments. The warranty clause limits the Contractor's liability concerning workmanship defects. This form is particularly beneficial for legal professionals such as attorneys, paralegals, and legal assistants, who may assist in drafting or reviewing such contracts, ensuring compliance with local laws, and protecting clients' interests during construction projects.

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FAQ

Payment for private projects – After a contractor has completed a construction project and upheld the terms of its contract, the owner of the property receives a request for payment. Under the provisions of The Florida Prompt Payment Act, the owner must provide payment within 14 days once that request is received.

Section 713.08 of the Florida Statutes, provides the proper form and specific requirements to complete the claim of lien document such as: name and address of lienor, statement of labor and materials provided, description of the property, name of property owner, lien amount, proof of service and the proper warning to ...

Either party to a home improvement contract may cancel the contract by the exercise of the right to rescind until midnight of the third business day following the execution of the contract by giving notice to the other party by either certified mail or registered mail.