Home Fee Cost Plus Contract With Construction Company In Massachusetts
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The Home Fee Cost Plus Contract with a construction company in Massachusetts is a crucial legal document that outlines the terms and conditions for constructing a residence. This contract specifies the scope of work, including all labor and materials needed for the project, and details the work site where the construction will occur. Key features include provisions for obtaining necessary permits, addressing soil conditions, and maintaining insurance. The form allows for changes to the scope of work through written change orders, ensuring that the owner is informed of any additional costs. Notably, the payment structure can be based on the actual costs incurred plus a predetermined fee or a fixed fee, providing flexibility to the owner. The contract also includes clauses regarding late payment penalties and warranties for workmanship, emphasizing the parties' responsibilities. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate and construction law, as it provides a clear framework for contractual obligations and protects the interests of both the contractor and the owner.
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A holder of a Construction Supervisor License (CSL) is required to have passed an examination which demonstrates knowledge of the state building code. A CSL is generally required for any work that involves a building's structural elements. A holder of an HIC registration is not required to pass an examination.
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.
