Construction Cost Contract Plus With Guaranteed Maximum Price In Georgia
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Description
The Construction Cost Contract Plus with Guaranteed Maximum Price in Georgia serves as a comprehensive agreement between a contractor and an owner for building projects. This form outlines the scope of work, including specific project details and location, and assigns responsibilities for obtaining necessary permits. It clarifies that the contractor is not liable for soil conditions and mandates that the owner provide a boundary survey and title opinion. The contract includes provisions for changes to the scope of work through written change orders, potentially affecting project costs. Importantly, this document delineates two fee structures: a cost-plus model—where the owner pays the contractor's actual costs plus a predetermined amount—and a fixed fee structure. In cases of late payment, a late charge is enforced. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who are involved in real estate, construction law, or contract negotiation and management in Georgia.
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FAQ
Maximum Allowable Construction Area (MACA) “ the combined total of the Maximum Allowable PSO and the Maximum Allowable ISA. Maximum Allowable Unpaved Surface Area (USA) “ portion of the lot that shall remain unpaved and reserved for softscaping/planting.
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.
