Construction Contract Cost Plus Withholding In King
Category:
State:
Multi-State
County:
King
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract Cost Plus Withholding in King is a legal document used to formalize the agreement between a contractor and an owner for constructing a residential project. This contract outlines the scope of work, work site, permits, and insurance requirements, providing clarity on the responsibilities and rights of both parties. A key feature is the cost structure, allowing for either cost plus a fixed fee or a fixed fee basis, catering to varying financial arrangements. The contract includes provisions for changes in the scope of work, late payment penalties, and warranty details, ensuring comprehensive coverage of potential issues. It also emphasizes that soil conditions and necessary permits are the owner's responsibility, minimizing contractor liability. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate and construction law. By using this contract, they can facilitate clearer negotiations and protect their clients' interests throughout the construction process.
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FAQ
Uncertain Scope: If the project scope is likely to change, a CPIF contract provides the flexibility to adjust costs and incentives ingly.
