Cost Plus Contract With Example In Florida
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Description
A Cost Plus Contract in Florida stipulates that the Owner agrees to pay the Contractor the actual costs incurred for materials plus a specified fee for their service. This type of contract is particularly useful when the scope of work may change, allowing flexibility in project costs while ensuring transparency and accountability. Key features include detailed handling of alterations through Change Orders, stipulations for securing necessary permits, and provisions for insurance. Attorneys, partners, owners, associates, paralegals, and legal assistants find this contract valuable as it clearly delineates responsibilities and liabilities, reduces the risk of disputes, and provides a framework for managing unexpected costs. It also ensures that both parties have a mutual understanding of costs and work specifications. Filling the form requires clearly detailing the scope of work, work site location, and financial arrangements. Editing instructions involve documenting any changes to be executed through formal Change Orders and updating the fee structure as needed.
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