Construction Cost Plus With Showtime In Franklin
Category:
State:
Multi-State
County:
Franklin
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Plus with Showtime in Franklin is a comprehensive contract template designed for use between a contractor and an owner. It outlines the scope of work, specifying that the contractor will provide all labor and materials necessary for the project as per the agreed plans. The form mandates that the contractor apply for required permits, while the owner must supply necessary documentation, including boundary surveys and title opinions. A notable feature includes the provision for changes to the scope of work, which can be enacted through written Change Orders that may adjust the project's costs. The cost structure can be based on a cost-plus method or a fixed fee, allowing flexibility in payment arrangements. Additionally, the document addresses the handling of late payments and includes a warranty clause that limits the contractor's liability to defects in workmanship. This form is particularly useful for attorneys, partners, and owners involved in construction projects, as it provides clear guidelines for contractual obligations and rights. Paralegals and legal assistants will benefit from the straightforward filling and editing instructions embedded within the template, ensuring compliance with legal standards while facilitating efficient project management.
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FAQ
The percentage of completion method is a revenue recognition accounting concept that evaluates how to realize revenue periodically over a long-term project or contract. Revenue, expenses, and gross profit are recognized each period based on the percentage of work completed or costs incurred.
