Contract Cost Plus Form With Cost In Massachusetts
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Description
The Contract Cost Plus Form with Cost in Massachusetts is designed for construction projects where the owner agrees to pay the contractor the actual costs of materials and labor, plus an additional fee. This form includes detailed sections on the scope of work, work site, and contractor responsibilities regarding permits and insurance. Users must clearly outline any changes to the scope through written change orders, ensuring transparency and mutual consent. Key features include provisions related to cost adjustments, late payment penalties, and warranty terms. Attorneys, partners, and owners can utilize this form to protect their interests and streamline project management by clearly defining roles and obligations. Paralegals and legal assistants will find the editing instructions straightforward, enabling them to customize the form for specific projects while maintaining compliance with state regulations. Ultimately, this form supports efficient communication and agreement between parties involved in construction, making it an essential tool for those engaged in the building industry in Massachusetts.
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The three general categories of costs included in manufacturing processes are direct materials, direct labor, and overhead. Note that there are a few exceptions, since some service industries do not have direct material costs, and some automated manufacturing companies do not have direct labor costs.
Owner to Prime Contractor (Public): 15 days after receipt of invoice. If the entity is a commonwealth entity, payments must be made within 30 days. Final payment is due 65 days after invoice.
