Cost Plus Contract In Building In Hennepin
Category:
State:
Multi-State
County:
Hennepin
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Contract in Building in Hennepin is designed to facilitate the construction of residential projects, describing the responsibilities and expectations between the Contractor and the Owner. This contract allows the Owner to pay the Contractor for the actual costs incurred for materials, along with an agreed-upon fee for services, making it flexible for projects with variable costs. Key features include a detailed scope of work, permitting requirements, and protocols for managing changes. The contract stipulates that the Owner must provide permits and manage any additional site work due to soil conditions, reducing the Contractor's liability in these areas. Furthermore, it outlines payment procedures, including provisions for late payments and associated fees, assuring timely compensation for the Contractor. The warranty is limited to one year for workmanship, while materials are covered by the manufacturer's warranties. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides clear guidelines for drafting and executing construction contracts, minimizes misunderstandings, and ensures compliance with local regulations.
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FAQ
Protect Yourself when Working with Custom Home Builders Only work with a licensed contractor. Get the contract in writing. Avoid “lump sum” bids. Talk to several contractors. Tie payments to deliverables. Get proof of payment to suppliers.
