Construction Cost Contract Plus With Guaranteed Maximum Price In Hillsborough
Category:
State:
Multi-State
County:
Hillsborough
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Contract Plus with Guaranteed Maximum Price in Hillsborough is a formal agreement between a contractor and an owner for the construction of a project, ensuring clarity on costs and responsibilities. This contract outlines the scope of work, including the specifics of labor and materials, as well as the work site and applicable permits. A key feature includes the 'cost plus' structure, where the owner pays for actual costs plus a predetermined fee, thus offering a maximum cap on expenses. The document also addresses insurance requirements, soil conditions, and the process for making changes to the scope of work through written change orders. It establishes payment terms, including late fees and the contractor's limited warranty on workmanship. Target users, including attorneys, partners, owners, associates, paralegals, and legal assistants, find this form essential for managing construction agreements, ensuring compliance with legal standards, and safeguarding interests during construction projects.
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FAQ
Maximum Allowable Construction Area (MACA) “ the combined total of the Maximum Allowable PSO and the Maximum Allowable ISA. Maximum Allowable Unpaved Surface Area (USA) “ portion of the lot that shall remain unpaved and reserved for softscaping/planting.
The GMP Budget is the amount the Trustees have budgeted for the construction Contract. The award of a construction contract is contingent upon receiving an actual GMP within the GMP Budget.
