Cost Plus Construction Contract With Gmp In King
Category:
State:
Multi-State
County:
King
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Construction Contract with GMP in King outlines the agreement between a Contractor and an Owner for constructing a residential project. It specifies the scope of work, the work site location, and the permit requirements that the Contractor must fulfill. Key features include provisions for changes to the scope of work through written change orders and the method of payment, distinguishing between cost plus and fixed fee arrangements. Additionally, it addresses insurance responsibilities, soil conditions, and warranty limitations for workmanship. This form is utility-rich for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear structure for construction agreements, ensuring compliance with local regulations and defining liability. It facilitates better project management by delineating specific responsibilities and financial obligations, which is crucial for resolving potential disputes. Overall, the form serves to protect the interests of all parties involved while streamlining the construction process.
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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.
