Cost Plus For Construction In Kings
Category:
State:
Multi-State
County:
Kings
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus for Construction in Kings is a construction contract form that outlines the agreement between a contractor and an owner for a construction project. This form is particularly beneficial for various legal professionals as it details the payment structure, wherein the owner agrees to pay the contractor for actual costs incurred plus a predetermined fee for services. The key features include sections on scope of work, work site, permits, soil conditions, insurance, and changes to the scope of work, ensuring comprehensive coverage of project specifics. Filling instructions suggest that owners must specify the project details, including site location and agreed fees, while contractors need to ensure the inclusion of necessary permits and regulatory approvals in the project budget. The form serves as a legal safeguard by clearly delineating responsibilities, insurance requirements, and conditions for workflow alterations. Use cases are relevant for attorneys drafting contracts, partners negotiating terms, owners managing project budgets, associates and paralegals preparing documentation, and legal assistants assisting with form completion. Overall, this form promotes transparency and accountability in construction contracts.
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FAQ
The foundation is one of the most expensive elements of new home construction. It requires extensive materials and labor to ensure the structure's stability.
The percentage of completion method is a revenue recognition accounting concept that evaluates how to realize revenue periodically over a long-term project or contract. Revenue, expenses, and gross profit are recognized each period based on the percentage of work completed or costs incurred.
