Construction Contract Cost Plus Withholding In Hillsborough
Category:
State:
Multi-State
County:
Hillsborough
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract Cost Plus Withholding in Hillsborough is a legal document that outlines the terms and conditions between a contractor and an owner for a construction project. This contract specifies the scope of work, outlines the responsibilities of both parties, and details payment structures for either a cost-plus arrangement or a fixed fee. Key features include provisions for permits, insurance requirements, handling of soil conditions, and procedures for changes to the scope of work through written change orders. The form also stipulates late payment penalties and contractor warranties for workmanship defects within one year. It is designed to facilitate clear communication and compliance between contractors and owners, enhancing project accountability. Users such as attorneys, partners, owners, associates, paralegals, and legal assistants can benefit from this form as it provides a structured framework for construction contracts and helps ensure legal protections are in place. Legal professionals can use it to advise clients on contract terms, while contractors and owners can rely on it to clarify their roles and financial responsibilities.
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FAQ
SECTION 078Public construction retainage. (1) With regard to any contract for construction services, a public entity may withhold from each progress payment made to the contractor an amount not exceeding 5 percent of the payment as retainage.
