Home Fee Cost Plus Contract Format In Illinois
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Description
The Home Fee Cost Plus Contract format in Illinois is a legal document that outlines the agreement between a Contractor and an Owner for construction projects. This contract specifies the scope of work, including labor and materials needed for the project, along with detailed descriptions of the work site and applicable permits. Key features include provisions for soil conditions, insurance requirements, and the process for changes to the scope of work through written Change Orders. The fee structure is defined under two options: the cost-plus model, where the Owner pays the Contractor's actual costs plus a specified fee, and a fixed fee arrangement for services rendered. The document also outlines payment terms, including late fees, and warranty limitations on workmanship. This contract is invaluable for Attorneys, Partners, Owners, Associates, Paralegals, and Legal Assistants who need a clear framework for construction agreements, ensuring legal compliance and protection of client interests throughout a project's duration.
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