Construction Cost Contract 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 Cost Contract Plus with Guaranteed Maximum Price in Kings is a formal agreement between a contractor and an owner outlining the terms of construction for a designated project. Key features of the form include the scope of work, work site specifics, permitting responsibilities, soil condition considerations, insurance requirements, and procedures for changes in project specifications. Additionally, it highlights payment structures, allowing for either a cost-plus method or a fixed fee, ensuring clarity in financial obligations. This contract also stipulates late payment penalties and warranty information regarding workmanship and materials. For the target audience of attorneys, partners, owners, associates, paralegals, and legal assistants, the form provides a clear framework for managing construction projects, minimizing disputes, and ensuring compliance with local regulations. It is user-friendly, making it accessible for individuals with varying levels of legal experience, while also emphasizing essential rights and responsibilities related to construction projects.
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FAQ
Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and “Minimum Contract Value “means 10% of the Maximum Contract Value.
