Construction Contract Cost Plus With Gmp In Middlesex
Category:
State:
Multi-State
County:
Middlesex
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract Cost Plus with GMP in Middlesex is designed for use between a contractor and an owner, laying out the terms of a construction project. This contract sets clear expectations regarding the scope of work, project site, necessary permits, and soil conditions, ensuring both parties understand their responsibilities. Key features include provisions for contractor insurance, the necessity of a boundary survey, and the process for changes in the scope of work through written change orders. The contract also outlines payment structures, allowing owners to choose between a cost-plus payment or a fixed fee, along with a late payment clause that details penalties for overdue payments. For attorneys, this form serves as a crucial document for advising clients on construction agreements, while partners, owners, and associates can use it to protect their interests and clarify project expectations. Paralegals and legal assistants benefit by having a structured template that simplifies the drafting process, ensuring compliance with local regulations.
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FAQ
The GMP Budget is the amount the Trustees have budgeted for the construction Contract. The award of a construction contract is contingent upon receiving an actual GMP within the GMP Budget.
