Construction Cost Plus With Example In Illinois
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Description
The Construction Contract, specifically the Construction Cost Plus with example in Illinois, outlines the terms between a Contractor and an Owner for residential construction projects. It establishes the scope of work, work site, and specifies that the Owner pays for actual costs of materials plus a fee for the Contractor's services. This contract highlights the necessity for permits, the importance of soil conditions, and the insurance responsibilities of the Contractor. Key features include provisions for change orders and a late payment clause that incurs additional charges. For the target audience—Attorneys, Partners, Owners, Associates, Paralegals, and Legal Assistants—this form serves as a crucial template to ensure clarity in construction agreements, providing structured guidelines for managing costs and liabilities. It is particularly effective in Illinois, where specific regulations may impact construction practices, making a clearly defined contract essential for legal and financial security.
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Many states exempt most services, including construction labor. Thus, sales tax generally doesn't apply to construction services in Illinois, Minnesota, and Pennsylvania.