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Construction Contract for Home - Fixed Fee or Cost Plus

Construction Contract Cost Plus With Guaranteed Maximum Price In Harris

Q: What is the maximum allowable construction area?

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.

Category:

Construction - Contractors

State:

Multi-State

County:

Harris

Control #:

US-00462

Format:

Instant download

Description

The Construction Contract Cost Plus with Guaranteed Maximum Price in Harris is a comprehensive agreement between the Contractor and Owner that establishes the terms for a construction project. It outlines key components such as the scope of work, work site location, permits, soil conditions, insurance requirements, and change orders. The contract offers flexibility through its cost-plus payment structure, allowing the Owner to pay for the actual costs incurred by the Contractor, plus a fee, with a guaranteed maximum limit to prevent unexpected expenses. This feature is particularly beneficial for managing budget constraints. Filling instructions emphasize the need for proper specifications, permits, and documentation throughout the duration of the project. The intended audience includes attorneys, partners, owners, associates, paralegals, and legal assistants, all of whom may utilize the form to navigate legal responsibilities and ensure compliance with jurisdictional requirements. The contract supports effective communication and clarity in project expectations, while also placing stipulations on late payments and warranties, contributing to a well-structured project management approach.

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FAQ

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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.

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.