Contract Cost Plus Form Template With Percentages In Michigan
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Description
The Contract Cost Plus Form Template with Percentages in Michigan is a legal document designed for construction agreements between a contractor and an owner. It outlines the scope of work, site details, and responsibilities around permits and insurance. A key feature of this template is the payment structure, where the owner agrees to pay the actual costs incurred by the contractor plus an additional fee, ensuring transparency in financial obligations. Instructions for filling out the form include specifying the project details, payment terms, and any changes to the scope of work through written change orders. This template is particularly useful for legal professionals such as attorneys, partners, owners, associates, paralegals, and legal assistants, providing them with a clear framework to facilitate construction projects while managing costs effectively. Specific use cases may include residential developments, renovations, or commercial builds where costs fluctuate with project demands. The form not only protects the interests of both parties but also establishes clear expectations to mitigate disputes.
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For example, instead of writing “45 days”, an attorney would write “forty-five (45) days”. Sometimes, attorneys even use this method in writing out dollar amounts (e.g., “five thousand two hundred and 00/100 Dollars ($5,200.00)”) or percentages (e.g., “seventy-five percent (75%)”).
