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Construction Contract for Home - Fixed Fee or Cost Plus

Construction Contract Cost Plus Withholding In Miami-Dade

Category:

Construction - Contractors

State:

Multi-State

County:

Miami-Dade

Control #:

US-00462

Format:

Instant download

Description

The Construction Contract for cost plus withholding in Miami-Dade is designed to formalize the agreement between a Contractor and an Owner for a construction project. This contract outlines the scope of work, including labor and materials, and specifies the project details to be completed at the Work Site. Key features include provisions for obtaining necessary permits, managing soil condition concerns, and maintaining insurance coverage. Additionally, it allows for changes in the scope of work through written Change Orders, with provisions detailing how costs will be managed. Importantly, it specifies payment terms, including a structure for late payments and penalties. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who are involved in construction-related projects. They can use this comprehensive contract to ensure clear communication and legal protection between parties, manage project costs effectively, and fulfill legal obligations. The flexible payment options, including 'cost plus' or 'fixed fee', cater to various budgeting needs, enabling users to tailor the agreement to specific project requirements.

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FAQ

Simply put, construction contingency refers to unknown unknowns, while allowances are the financial backup for known unknowns. Conflating contingency and allowance can lead to misallocating resources, delays in project completion, and, ultimately, increased costs.

A construction allowance is an amount included in a contract's sum to cover costs and provide flexibility when you expect a particular scope of work, but don't know the extent just yet. Think of it as an informed guess.

An Allowance would be used when the exact character or quality of an element of the work is not known at the time of bidding. Alternate – An alternative to the base bid that provides for a change in the level of quality, or scope of the work specified in the base bid.

The sale of a maintenance or service warranty contract, including an extended warranty, covering taxable tangible personal property is subject to sales tax and surtax.

Generally, all construction contracts in Florida must contain are required to disclose the contractor or subcontractor's registration number issued by the Florida DPBR; if required. Furthermore, all construction contracts should also include a construction defect notice and opportunity to cure provisions.