Construction Contract Cost Plus With Example In Hillsborough
Category:
State:
Multi-State
County:
Hillsborough
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract Cost Plus with example in Hillsborough outlines the agreement between the Contractor and Owner for building a residence, where the Owner pays for the actual costs of materials plus an additional fee. The scope of work includes detailed plans and specifications attached to the contract. Important features include clauses on obtaining necessary permits, responsibility for soil conditions, and insurance requirements. The Owner retains the right to change the scope of work through written Change Orders, accepting responsibility for any cost increases. This form provides the Owner with transparency regarding expenses while allowing flexibility for adjustments during construction. Additionally, it includes payment terms, late payment penalties, and warranty details for workmanship. It is particularly useful for attorneys, owners, and legal staff navigating construction projects, ensuring clarity in financial obligations and responsibilities. Legal assistants and paralegals will benefit from understanding the implications of Cost Plus contracts, making them better equipped to advise their clients on project management and contractual obligations.
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FAQ
How To Write A Construction Contract With 7 Steps Step 1: Define the Parties Involved. Step 2: Outline the Scope of Work. Step 3: Establish the Timeline. Step 4: Determine the Payment Terms. Step 5: Include Necessary Legal Clauses. Step 6: Address Change Orders and Modifications. Step 7: Sign and Execute the Contract.
