Contract Cost Plus Agreement With Gmp In Maricopa
Category:
State:
Multi-State
County:
Maricopa
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Contract Cost Plus Agreement with GMP in Maricopa is a detailed construction contract between a contractor and an owner, outlining the responsibilities and payment terms for a building project. It specifies the scope of work, work site location, and outlines the contractor's obligations regarding permits, insurance, and soil conditions. One of the key features is the payment structure, where the owner agrees to pay the actual cost of materials plus a specified fee, reflecting a cost-plus arrangement. The form includes provisions for changes to the scope of work, requiring written change orders and making the owner responsible for additional costs incurred. It also outlines consequences for late payments, including a late charge and potential attorney fees for collections. This contract is beneficial for attorneys, partners, and owners as it provides a clear framework for construction projects, reduces potential disputes, and allows for flexible negotiations regarding scope alterations. Paralegals and legal assistants may find it useful for ensuring compliance with local regulations and for preparing documentation related to project changes.
Free preview
Form popularity
FAQ
Disadvantages of GMP contracts Potential for disputes: While shared savings can be an advantage, it can also lead to disagreements over project management decisions, especially if there's a perception that savings are being prioritized over quality.
Series A O/C Agreements. B O/A Agreements. C Other Agreements. D Miscellaneous. E Exhibits. F Facility Management. G Forms.
