What is the maximum contract value?

Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and Minimum Contract Value means 10% of the Maximum Contract Value.

US Legal Forms
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Construction Contractor Forms
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Construction Contract for Home - Fixed Fee or Cost Plus

Construction Cost Contract Plus With Guaranteed Maximum Price In Fulton

Q: What is the maximum contract value?

Maximum Contract Value means the amount specified in the &quot;Limitation of Expenditure&quot; clause set out in the Contract; and Minimum Contract Value means 10% of the Maximum Contract Value.

Category:

Construction - Contractors

State:

Multi-State

County:

Fulton

Control #:

US-00462

Format:

Instant download

Description

The Construction Cost Contract Plus with Guaranteed Maximum Price in Fulton is designed for use between a contractor and an owner, detailing the terms for constructing a project. It outlines the scope of work, the work site, and the responsibilities related to permits, insurance, and soil conditions. Notably, it includes a cost-plus structure where owners agree to pay for actual costs plus a fixed fee, ensuring a maximum price is set for the project. Changes to the scope of work can occur through written change orders, with the owner responsible for any additional costs. The contract addresses late payments and specifies a warranty on workmanship for one year. This contract is particularly useful for attorneys, partners, and owners involved in construction projects, as well as paralegals and legal assistants managing contract documentation. Users benefit from the clarity regarding financial responsibilities and the structured approach to project changes, fostering a clear understanding of roles and obligations.

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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.

Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.

Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.

If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.

We protect your documents and personal data by following strict security and privacy standards.

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FAQ

The GMP Budget is the amount the Trustees have budgeted for the construction Contract. The award of a construction contract is contingent upon receiving an actual GMP within the GMP Budget.

Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and “Minimum Contract Value “means 10% of the Maximum Contract Value.