Construction Cost Contract Plus With Gmp In King
Category:
State:
Multi-State
County:
King
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Contract Plus with GMP in King is an essential document that establishes the agreement between a contractor and an owner for residential construction projects. It outlines the scope of work, work site specifications, permit requirements, and insurance obligations. The contractor is tasked with constructing the project as per the agreed plans, while the owner is responsible for providing necessary specifications and site conditions. Important features include provisions for change orders, which allow the owner to make adjustments to the scope of work, and clear payment terms for both cost-plus and fixed fee arrangements. Furthermore, the contract stipulates late payment penalties and warranty details for workmanship defects. This document is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a structured approach to managing construction projects, ensures clarity on responsibilities, and protects the rights of both parties involved.
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FAQ
The GMP Budget is the amount the Trustees have budgeted for the construction Contract. The award of a construction contract is contingent upon receiving an actual GMP within the GMP Budget.
