Home Fee Cost Plus Contract For Construction In Los Angeles
Category:
State:
Multi-State
County:
Los Angeles
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Home Fee Cost Plus Contract for Construction in Los Angeles outlines the agreement between a contractor and an owner for constructing a residence. Key features include the scope of work, work site information, permit responsibilities, and insurance requirements. It specifies that the contractor will be compensated based on the actual construction costs plus a predetermined fee. Users must carefully fill in details such as project specifications, site address, and payment terms. Editing instructions emphasize the importance of documenting changes through written 'Change Orders' to prevent misunderstandings. This contract is particularly useful for attorneys, partners, and owners involved in real estate or construction projects, offering a clear structure for liabilities and expectations. Paralegals and legal assistants can utilize this form to ensure compliance with local regulations and assist with modifications, while providing a reliable framework for dispute resolution. Filling out this contract accurately can help streamline project management and minimize potential legal conflicts.
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FAQ
The contract should describe, in detail, the products to be used and how the work will be performed, i.e., size, color, who will be doing what work, amounts of materials provided, manufacturer model number, etc. There must be a detailed, written payment schedule in the contract.
Final payments from the owner to the prime contractor become due within 45 days after the completion of the entire project. Upon receipt of payment from the owner, the prime contractor needs to make payment to their subs and suppliers within 10 days. The same deadline applies to all other payments down the chain.
Initial Payment: $1,000 or 10% (whichever is less) Demo and Prep Work Completion: 20%
