Home Fee Cost Plus Contract With Guaranteed Maximum In Houston

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

Description

The Home fee cost plus contract with guaranteed maximum in Houston is a detailed construction agreement between a contractor and an owner outlining the responsibilities and obligations of both parties. Notably, the contract emphasizes the scope of work, specifying that the contractor will provide labor and materials for the project as per the agreed plans and specifications. The contractor is required to obtain necessary permits, while soil conditions at the work site are the owner's responsibility, mitigating the contractor's liability. Importantly, the contract incorporates provisions for changes to the scope of work through written change orders, ensuring both parties are informed and agreeable to any modifications. The fee structure offers flexibility, allowing for either a cost-plus or a fixed-fee arrangement, with the owner liable for any late payments. Additionally, the warranty section provides a limited guarantee on workmanship defects for one year, while material warranties are assigned to the owner. This form is beneficial for attorneys, paralegals, and legal assistants involved in real estate law as it provides a clear framework for contractor agreements, preventing ambiguities and potential disputes for owners and contractors alike.