Cost Plus Contract In Construction In Hillsborough

• Category: Construction - Contractors
• State: Multi-State
• County: Hillsborough
• Control #: US-00462
• Format: Word; Rich Text

Description

The Cost Plus Contract in construction in Hillsborough is a binding agreement between a contractor and an owner, specifying that the owner will pay the contractor for the actual cost of materials plus an additional fee for services rendered. This document outlines the scope of work, work site, necessary permits, and provisions for changes during construction. It emphasizes that the contractor is not liable for soil condition issues and requires the owner to provide a boundary survey prior to construction. Key features include provisions for insurance, late payment penalties, and a limited warranty by the contractor. It is crucial for parties entering this agreement to understand their responsibilities regarding payment structures, especially in relation to changes requested during the project. The form is particularly beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants, as it serves as a foundational legal document ensuring clarity and accountability in construction projects. Users need to fill in specific details such as the project's scope, location, and fee structures, ensuring that all components are completed accurately to avoid disputes.