Construction Cost Plus With Example In Georgia
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Description
The Construction Cost Plus Contract is a legal document entered into between a Contractor and an Owner for the construction of a project. In Georgia, this form outlines the obligations of both parties regarding the construction scope, site specifics, and cost structure. The Contractor agrees to be paid for actual material costs plus an additional fee for their services, ensuring transparency in expenses. Key features include provisions for project changes via written Change Orders, insurance requirements for the Contractor, and clarity on the Owner’s responsibilities regarding soil conditions and permits. This form is particularly useful for Attorneys, Owners, and Contractors, as it provides a clear contractual framework that delineates responsibilities and costs. Paralegals and Legal Assistants can utilize it to help clients understand the terms and manage documentation effectively. Filling out the form requires specific details about the project, and it should be carefully reviewed for accuracy to prevent disputes during construction.
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FAQ
Generally, labor accounts for anywhere from 20-35% of total construction expenses, while materials account for 65-80%.
Construction costs (sometimes called “hard costs”) are costs associated with the contractor and anything the contractor purchases. In other words, these are the costs of labor and materials.
