Cost Plus Contract In Costing In Hennepin
Category:
State:
Multi-State
County:
Hennepin
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Contract in Costing in Hennepin provides a framework for a construction agreement between a contractor and an owner. This document outlines the scope of work, including plans and specifications for a project, and specifies that the contractor will be compensated for actual material costs plus an agreed-upon fee. It also emphasizes that any changes to the scope must be documented through written change orders, ensuring clarity in any modifications to the project's costing. The contractor is responsible for obtaining necessary permits and must maintain relevant insurance coverage. Soil condition assessments are the owner's responsibility, protecting the contractor from related liabilities. The contract includes provisions for late payments and a warranty covering defects in workmanship for one year. This form serves as a vital tool for attorneys, partners, owners, associates, paralegals, and legal assistants handling construction projects, ensuring they are aware of their rights and obligations while enabling transparent financial arrangements.
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