Cost Plus Contract In Construction In Massachusetts
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Description
The Cost Plus Contract in construction in Massachusetts is a legal document that outlines the terms and conditions under which a contractor will provide services to an owner. This contract specifies that the owner will pay the contractor for the actual costs incurred, plus a predetermined fee for services rendered. One key feature of this form is its ability to adapt to changing project scopes, allowing for adjustments through written Change Orders. Users are required to ensure that permits are obtained and that insurance is maintained throughout the project. The form also emphasizes that soil conditions at the work site are the owner's responsibility, which can significantly impact costs. Additionally, it sets out late payment charges and warranty provisions for workmanship. This contract is particularly beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a clear framework for understanding roles and responsibilities, aiding in negotiation and compliance while offering guidance on potential issues related to project costs.
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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.
