Cost Plus Contract In Project Management In Middlesex
Category:
State:
Multi-State
County:
Middlesex
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Contract in Project Management in Middlesex is an agreement that outlines the terms between a contractor and the owner for construction work. It specifies that the owner will pay the contractor for the actual cost of materials, along with a predetermined fee for services rendered. Key features include scope of work, work site conditions, permit obligations, insurance coverages, and procedures for handling changes in the scope of work. Owners are required to bear the costs of any additional work due to soil conditions and must ensure necessary permits are obtained. The contract also stipulates payment schedules, late fees, and warranty limitations for the contractor's workmanship. This form is particularly useful for attorneys and legal assistants in crafting and reviewing contracts, while owners and partners can use it to understand their rights and obligations. Paralegals and associates may find the clauses beneficial for ensuring compliance with local regulations and industry standards.
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10 Different Types of Contracts Type of ContractEveryday Use Implied Contracts Common in everyday transactions like dining out. Express Contracts Standard in formal business agreements. Simple Contracts Used for straightforward services or transactions. Unconscionable Contracts Often challenged in court for fairness.10 more rows •
The stages of contract management can be broken down into pre-signature (creation, negotiation/collaboration, and review/approval) and post-signature (administration/execution, renewal/termination, and reporting/tracking).
