Cost Plus Contract With Example In Maricopa
Category:
State:
Multi-State
County:
Maricopa
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Contract is a legal document that outlines an agreement between a contractor and an owner for the construction of a project, allowing the contractor to charge the actual cost of materials plus a specified fee. An example in Maricopa could involve a homeowner agreeing to pay a contractor the costs incurred for materials, along with an additional $10,000 for services rendered. Key features include clear definitions of the scope of work, the work site, and applicable permits. The contract also addresses contractor responsibilities regarding insurance, survey, and title requirements. Changes to the project scope can be made via written Change Orders, with the owner responsible for any cost increases that result. The form includes terms related to late payments and warranties, ensuring both parties understand their obligations. This contract serves utility for various target audiences such as attorneys, who may advise on its legalities; partners and owners who manage project finances; associates overseeing project execution; paralegals handling documentation; and legal assistants who prepare and file the necessary papers. By providing a structured approach to construction agreements, the Cost Plus Contract helps all parties ensure clarity and accountability throughout the project lifecycle.
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FAQ
As a general rule, if the owner hired whoever drafted the construction plans, or if whoever drafted the faulty plans is an employee or agent of the owner, it is the owner who will be liable for defective plans.
