Cost Plus Fee Construction Contract In Michigan
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The Cost Plus Fee Construction Contract in Michigan is a legal agreement between a contractor and an owner that outlines the framework for construction services. Key features of this contract include a detailed scope of work, which specifies the labor and materials required, and provisions pertaining to permits, insurance, and potential changes to the project's scope. One critical aspect is the cost plus fee structure, where the owner agrees to pay the contractor the actual cost of materials plus a specified fee for services rendered. The contract also includes clauses on late payments and warranties, ensuring both parties understand their financial obligations and the contractor's limited warranty on workmanship. This form is particularly useful for attorneys, partners, and owners engaged in construction projects, as it clearly delineates responsibilities and costs. Paralegals and legal assistants can utilize this template for efficient drafting and managing contract details, while ensuring compliance with Michigan construction laws. Overall, the contract facilitates clear communication between all parties and serves as a foundational document for successful project execution.
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Michigan construction contract requirements Only residential construction contracts are regulated in Michigan. Such contracts must be in writing, include the contractor's license number (if a license is required), and cite the statute that requires the contractor to be licensed for their particular trade.
