Construction Contract Cost Plus With Guaranteed Maximum Price In Houston

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

Description

The Construction Contract Cost Plus with Guaranteed Maximum Price in Houston is a legally binding document that outlines the responsibilities and expectations between a contractor and an owner for a construction project. This form includes key sections such as the scope of work, work site, permits, and insurance requirements, ensuring comprehensive coverage of the project's details. The cost structure allows for flexibility with a cost-plus arrangement, where the owner pays for actual costs of materials plus a contractor's fee, or a fixed fee can also be selected. The form requires parties to clearly state any changes to the project through written change orders, thereby protecting both parties' interests. The contractor must provide insurance coverage and a warranty for workmanship, enabling a safer construction environment. This form is particularly useful for attorneys, partners, and legal assistants in drafting or reviewing contracts to ensure compliance with local regulations. It also serves owners and associates by providing a straightforward agreement that establishes clear financial obligations and responsibilities during the construction process.