Home Fee Cost Plus Contract With Guaranteed Maximum In Georgia
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Description
The Home Fee Cost Plus Contract with Guaranteed Maximum in Georgia is a legal agreement between the Contractor and Owner outlining the responsibilities, payment structure, and conditions associated with a construction project. The contract specifies the scope of work, including the labor and materials required, and identifies the work site where the project will take place. Key features include provisions for obtaining necessary permits, managing soil conditions, and maintaining insurance coverage. It allows for changes to the scope of work through documented Change Orders, ensuring clarity in additional costs. The fee structure can be based on actual costs plus a specified amount or a fixed fee, providing flexibility in payment terms. Late payments incur charges and the Contractor offers a limited warranty for workmanship defects. This form is especially useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate or construction law, as it provides clear guidelines for contract negotiation, compliance, and project accountability.
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FAQ
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.
