Cost Plus In Construction In Mecklenburg
Category:
State:
Multi-State
County:
Mecklenburg
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract is designed for transactions between a Contractor and an Owner for construction projects, specifically outlining the 'Cost Plus' payment structure in Mecklenburg. This contractual form allows Owners to pay Contractors the actual cost of materials plus an agreed-upon sum for services provided. Key features include detailed scopes of work, terms for changes to the scope via written 'Change Orders,' and provisions for permits and insurance requirements. Filling instructions emphasize the need for clear descriptions of the project and work site, and an understanding of soil conditions and associated costs. This form is essential for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction law, providing them with necessary legal clarity and protection. It ensures compliance with local regulations and guards against potential liabilities tied to soil conditions and late payments. The structure supports transparent communications and agreements between parties, facilitating smoother project execution.
Free preview
Form popularity
FAQ
Protect Yourself when Working with Custom Home Builders Only work with a licensed contractor. Get the contract in writing. Avoid “lump sum” bids. Talk to several contractors. Tie payments to deliverables. Get proof of payment to suppliers.
The percentage of completion method is a revenue recognition accounting concept that evaluates how to realize revenue periodically over a long-term project or contract. Revenue, expenses, and gross profit are recognized each period based on the percentage of work completed or costs incurred.
