Construction Cost Contract Plus With Guaranteed Maximum Price In King
Category:
State:
Multi-State
County:
King
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Contract Plus with Guaranteed Maximum Price in King is designed to establish a clear agreement between the contractor and the owner for residential construction projects. Key features include a detailed scope of work, provisions for necessary permits, and specifications regarding site conditions and insurance requirements. The contract allows the owner to make changes to the project scope via written change orders, ensuring flexibility throughout the construction process. It also outlines payment structures, allowing for cost-plus arrangements or fixed fees, and emphasizes the owner's responsibility for late payments. Furthermore, the contract limits the contractor's warranty to one year for workmanship defects, assigning material warranties to the owner. This document is valuable for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for managing construction projects while protecting the rights and obligations of all parties involved.
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FAQ
Maximum Allowable Construction Area (MACA) “ the combined total of the Maximum Allowable PSO and the Maximum Allowable ISA. Maximum Allowable Unpaved Surface Area (USA) “ portion of the lot that shall remain unpaved and reserved for softscaping/planting.
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.
