Types Of Construction Contracts Cost Plus In King

• Category: Construction - Contractors
• State: Multi-State
• County: King
• Control #: US-00462
• Format: Word; Rich Text

Description

The document outlines a Construction Contract between a Contractor and Owner, specifically highlighting the 'Cost Plus' method of compensation. In this arrangement, the Owner agrees to pay the actual costs incurred by the Contractor for materials, plus an additional specified fee for services rendered. The form includes critical sections such as the scope of work, work site details, insurance requirements, and provisions for changes to the scope of work via written Change Orders. Legal professionals including attorneys, paralegals, and legal assistants will find this form particularly useful as it provides clear guidelines on project responsibilities, including the Contractor's obligations regarding permits and soil conditions. Furthermore, the contract addresses late payment penalties, ensuring that the Owner is aware of the consequences of delayed payments. This contract serves as a foundational document for agreements in construction projects, allowing for the necessary flexibility and clarity in owner-contractor relationships.