Cost Plus Contract With Example In Franklin
Category:
State:
Multi-State
County:
Franklin
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Contract with example in Franklin is a construction agreement that outlines the terms between the Contractor and the Owner. This contract establishes that the Owner will pay the Contractor for all actual costs incurred plus a predetermined fee for their services. Key features include a clearly defined scope of work, site details, and conditions regarding permits and soil assessments. It also specifies that the Contractor must maintain appropriate insurance and requires a boundary survey and title opinion from the Owner prior to commencing work. Any changes to the project scope require a written Change Order, with costs to be borne by the Owner. Payment terms include late payment penalties and a warranty that covers defects in workmanship for one year. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a structured approach to managing construction costs and responsibilities while ensuring all legal obligations are met.
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FAQ
Contract Costs means the estimated costs of the extension, conversion, or modification of service.
Contract costing, also known as Terminal costing, is a form of specific order costing which applies where work is undertaken to customer's special requirements and each order is of long duration. It is a variant of job costing as each contract is nothing but a job completed.
