Contract Cost Plus Form With Gmp In Harris
Category:
State:
Multi-State
County:
Harris
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Contract Cost Plus Form with GMP in Harris is a legal document designed for construction projects that outlines the terms between a contractor and an owner. This form includes critical components such as the scope of work, site details, permits, soil conditions, insurance requirements, changes in the scope, contractor fees, late payment clauses, and warranty provisions. It allows for a cost-plus approach, where the contractor is reimbursed for actual costs plus an agreed fee, thus providing flexibility for project adjustments. Users must fill in specific details regarding the project, such as the owner's and contractor's names, project description, fee amounts, and payment schedules. This form is highly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who navigate construction agreements and need a structured outline to protect the interests of both parties. It ensures compliance with local laws while minimizing the potential for disputes over project costs and modifications.
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FAQ
Disadvantages of GMP contracts Potential for disputes: While shared savings can be an advantage, it can also lead to disagreements over project management decisions, especially if there's a perception that savings are being prioritized over quality.
Ing to Boundy (2012), typically, a written contract will include: Date of agreement. Names of parties to the agreement. Preliminary clauses. Defined terms. Main contract clauses. Schedules/appendices and signature provisions (para. 5).
