Contract Cost Plus Agreement Format In King
Category:
State:
Multi-State
County:
King
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Contract Cost Plus Agreement Format in King outlines the terms between a contractor and owner for a construction project. It specifies the scope of work, work site, permit requirements, and insurance obligations. The contractor will provide a detailed account of costs, plus a fee for their services, which can vary based on the agreed cost plus or fixed fee structure. Changes to the project can be made through a written change order, with costs adjusted accordingly. The document also includes provisions for late payments, with a penalty of 1% for payments overdue by more than ten days, and limits the contractor's warranty to one year for defects in workmanship. This form serves as a crucial resource for attorneys, partners, owners, associates, paralegals, and legal assistants as it ensures clear communication and legal protections in construction agreements. By utilizing this format, users can efficiently manage project costs and responsibilities while safeguarding against misunderstandings or disputes.
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FAQ
Write the contract in six steps Start with a contract template. Open with the basic information. Describe in detail what you have agreed to. Include a description of how the contract will be ended. Write into the contract which laws apply and how disputes will be resolved. Include space for signatures.
Definition. A contract where the contractor recovers actual costs incurred for completed work.
Ing to Boundy (2012), typically, a written contract will include: Date of agreement. Names of parties to the agreement. Preliminary clauses. Defined terms. Main contract clauses. Schedules/appendices and signature provisions (para. 5).
