Cost Plus Construction Contract With Example In Illinois
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The Cost Plus Construction Contract with example in Illinois is a legally binding agreement between a contractor and an owner for a construction project. This form allows the contractor to charge the owner for the actual costs of materials incurred, plus an additional agreed-upon fee for services rendered. Key features include a detailed scope of work, provisions for permits, and assurance that contractor responsibilities are defined. The document stipulates that changes to the project scope must be documented through a written change order. Furthermore, it includes clauses regarding late payment penalties, warranties limited to workmanship, and owner responsibilities regarding the condition of the worksite. For attorneys, partners, and owners, this form serves as a comprehensive framework to ensure clear expectations and legal protections throughout the construction process. Associates, paralegals, and legal assistants may utilize this form as a guide to drafting and editing contracts, ensuring compliance with local laws in Illinois, while facilitating communication between contracting parties.
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How To Write A Construction Contract With 7 Steps Step 1: Define the Parties Involved. Step 2: Outline the Scope of Work. Step 3: Establish the Timeline. Step 4: Determine the Payment Terms. Step 5: Include Necessary Legal Clauses. Step 6: Address Change Orders and Modifications. Step 7: Sign and Execute the Contract.
