Cost Plus Fee Construction Contract In Los Angeles

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

Description

The Cost Plus Fee Construction Contract in Los Angeles is a legal agreement between a contractor and an owner for the construction of a residential project. In this contract, the contractor is compensated for the actual cost of materials plus an agreed-upon fee, which allows flexibility in labor and resource expenses. Key features include the contractor's obligation to obtain necessary permits, manage soil conditions, and maintain insurance. The contract also outlines the procedures for making changes to the project scope through written change orders, ensuring that owners are responsible for any cost increases arising from such changes. This form provides clarity on late payment penalties and contractor warranties, which extend for one year post-completion. It serves as an essential tool for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction law, providing them a structured format to safeguard interests and mitigate risks in construction agreements. Users will appreciate its clear instructions for filling out project-specific details, making it straightforward for those with varying levels of legal expertise.