Construction Cost Plus With Example In Michigan
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Description
The Construction Contract form outlines the agreement between a Contractor and an Owner for a construction project under a cost plus arrangement, particularly exemplified in Michigan. This type of contract requires the Owner to pay the Contractor for actual material costs plus a specified fee for services rendered. Key features include a detailed scope of work, defined work site, permit responsibilities, and soil condition disclaimers. The form also addresses insurance requirements, the necessity for a boundary survey, and the process for making changes to the scope of work via written Change Orders. It stipulates payment terms, including late payment penalties, and a warranty that covers defects in workmanship for one year. This form is highly relevant for Attorneys, Partners, Owners, Associates, Paralegals, and Legal Assistants, as it provides clear guidelines for managing construction projects, ensuring legal compliance, and protecting interests in financial arrangements.
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FAQ
Costs vary based on size, scope, materials, and labor. While the foundation and framing generally represent the most significant expenses, labor costs can also add up quickly.
