Cost Plus Construction Contract With Example In Hennepin

• Category: Construction - Contractors
• State: Multi-State
• County: Hennepin
• Control #: US-00462
• Format: Word; Rich Text

Description

The Cost Plus Construction Contract represents an agreement between a contractor and an owner for building a specified project, such as a residence in Hennepin. This contract stipulates that the owner will pay the contractor the actual costs of materials plus an additional fee for services rendered. Key features include a detailed scope of work, the necessary permits, soil condition disclaimers, required insurance, and guidelines for changes to the contract through written change orders. Additionally, the contract outlines payment terms, including late payment penalties and a warranty clause that ensures coverage for defects in workmanship for one year. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who need a clear, structured agreement to manage construction projects effectively. It helps avoid disputes related to costs and responsibilities, ensuring all parties are informed about their obligations and rights regarding the project.