Construction Contract Cost Plus With Guaranteed Maximum Price In Kings
Category:
State:
Multi-State
County:
Kings
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract Cost Plus with Guaranteed Maximum Price in Kings is designed for a collaborative build between the Contractor and Owner, ensuring clear expectations and financial accountability. This contract specifies the scope of work, which includes detailed plans and specifications approved by both parties. It establishes the work site, the responsibility for obtaining necessary permits, and outlines that the Contractor bears no liability for soil conditions. Key features include the ability for the Owner to request changes to the scope of work through a written Change Order, which may affect costs. Importantly, the Contractor's fee can be structured as either cost-plus or fixed-fee, allowing flexibility based on project needs. The form also includes terms for late payments and a warranty limited to defects in workmanship for one year. This contract is beneficial for attorneys, owners, and legal professionals who need to facilitate construction projects while ensuring that all parties understand their rights and obligations. Properly completing this form aids in mitigating risks and establishing a clear roadmap for the project's financial and operational execution.
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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.
Intelligent Transportation System (ITS) Construction Engineering Inspection is vital to the success of modern infrastructure projects. As technology continually improves, we find ways to incorporate computer systems into roadways, keeping drivers safer and more informed.
max, or impact testing, is a measurement of the shockattenuation of the playing surface. The test results for gmax are exhibited as a ratio of the acceleration/deceleration that happens during impact to the normal acceleration rate which comes as a result of gravity.
