Cost Plus Contract Meaning With Example In Florida
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Description
A Cost Plus Contract in Florida is an agreement where the owner pays the contractor the actual cost of materials plus a fee for services rendered. This type of contract is beneficial for projects where costs might fluctuate. For example, if a contractor spends $10,000 on materials and charges a fee of $2,000, the total cost to the owner would be $12,000. Key features include a detailed scope of work, clauses for necessary permits, insurance requirements, and provisions for changes in the scope of the project. To fill out this contract, the owner must specify the exact amounts for the contractor's fee and outline payment terms. It is essential to include a clear description of the work site and any necessary soil conditions. Target users such as attorneys, partners, owners, associates, paralegals, and legal assistants will find this form useful in managing construction agreements, ensuring compliance with local regulations, and facilitating clear communication between the parties involved.
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