Cost Plus Construction Contract With Guaranteed Maximum Price In Georgia
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The Cost plus construction contract with guaranteed maximum price in Georgia is a legal agreement designed for construction projects where the contractor is reimbursed for actual costs plus a specified fee. Key features include a defined scope of work that outlines materials and labor needed for the project, and a provision for the use of change orders for any modifications requested by the owner. This form clarifies the work site, permits required, and insurance obligations of the contractor, ensuring both parties understand their responsibilities. Filling instructions specify that the owner must provide essential documentation, such as surveys and title opinions, before construction begins. Legal practitioners including attorneys, partners, owners, associates, paralegals, and legal assistants find this form useful for establishing a clear framework for construction agreements, managing potential disputes, and ensuring compliance with local regulations. Additionally, it serves as a reference for outlining risk management and cost limitations associated with construction projects in Georgia.
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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.
