What is the maximum contract value?

Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and Minimum Contract Value means 10% of the Maximum Contract Value.

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Construction Contract for Home - Fixed Fee or Cost Plus

Construction Cost Contract Plus With Guaranteed Maximum Price In Middlesex

Q: What is the maximum contract value?

Maximum Contract Value means the amount specified in the &quot;Limitation of Expenditure&quot; clause set out in the Contract; and Minimum Contract Value means 10% of the Maximum Contract Value.

Q: What is the maximum allowable construction area?

Maximum Allowable Construction Area (MACA) the combined total of the Maximum Allowable PSO and the Maximum Allowable ISA. Maximum Allowable Unpaved Surface Area (USA) portion of the lot that shall remain unpaved and reserved for softscaping/planting.

Category:

Construction - Contractors

State:

Multi-State

County:

Middlesex

Control #:

US-00462

Format:

Instant download

Description

The Construction Cost Contract Plus With Guaranteed Maximum Price in Middlesex is designed for use between contractors and owners for residential construction projects. This contract outlines the scope of work, including labor and materials, and establishes the work site location. It mandates the contractor to obtain necessary permits and specifies that soil conditions shall not be the contractor's responsibility. Key features include provisions for insurance, changes to the scope of work through written change orders, and payment terms which can be structured as cost-plus or fixed fee. The contract also includes terms for late payments and a warranty limited to workmanship defects. This form is useful for attorneys, partners, owners, associates, paralegals, and legal assistants who need a clear framework for construction agreements, ensuring protection and clarity in the project terms and contractor obligations.

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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.

Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.

Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.

If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.

We protect your documents and personal data by following strict security and privacy standards.

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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.

Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and “Minimum Contract Value “means 10% of the Maximum Contract Value.

Maximum Allowable Construction Area (MACA) “ the combined total of the Maximum Allowable PSO and the Maximum Allowable ISA. Maximum Allowable Unpaved Surface Area (USA) “ portion of the lot that shall remain unpaved and reserved for softscaping/planting.