Construction Contract Cost Plus With Guaranteed Maximum Price In Georgia
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The Construction Contract Cost Plus with Guaranteed Maximum Price in Georgia is a legal document outlining the agreement between a Contractor and an Owner regarding construction work. This contract specifies the scope of work, including plans and specifications, and identifies the work site location. Key features include the Contractor's responsibility for obtaining necessary permits, the Owner's obligation to provide soil condition assessments, and insurance requirements to protect both parties. The document allows for changes to the scope of work via written Change Orders, ensuring clarity on any additional costs incurred. Notably, it incorporates a Cost Plus fee structure, where the Owner pays the Contractor for actual costs plus a predetermined fee, along with provisions for late payment penalties and warranty conditions. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a detailed framework for construction agreements, promotes transparency between parties, and safeguards their interests throughout the project lifecycle.
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