Cost Plus For Construction In Hillsborough
Category:
State:
Multi-State
County:
Hillsborough
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus for Construction in Hillsborough is a contract form used to outline the agreement between a contractor and the owner for construction projects. This form specifies the contractor's fee structure, allowing the owner to pay the actual cost of materials plus a set fee for services. Key features of the form include detailed sections on the scope of work, work site regulations, permit responsibilities, and conditions regarding soil at the work site. It includes clear instructions on how to modify the scope of work through change orders, which must be documented in writing. The form stipulates that the contractor must maintain various insurances, ensuring protection for both parties involved. It's beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for negotiation and understanding of responsibilities. By using this form, legal professionals can effectively advise their clients on construction agreements while ensuring compliance with local regulations. The clarity of this form promotes understanding and reduces potential disputes, making it an essential tool in construction law.
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FAQ
The percentage of completion method is a revenue recognition accounting concept that evaluates how to realize revenue periodically over a long-term project or contract. Revenue, expenses, and gross profit are recognized each period based on the percentage of work completed or costs incurred.
