Cost Plus Contract Types In Middlesex
Category:
State:
Multi-State
County:
Middlesex
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract form outlines the terms of a Cost Plus contract type in Middlesex, where the Owner agrees to pay the Contractor the actual cost of materials plus a fixed fee for services rendered. This type of contract is useful in situations where project costs are uncertain, allowing flexibility for changes in scope without requiring a predetermined budget. Key features include clear descriptions of the work scope, required permits, responsibility for soil conditions, and the need for insurance coverage. The form specifies that any changes to work must be documented through written Change Orders, ensuring both parties acknowledge modifications and costs. Filling instructions recommend providing detailed project descriptions and specifying payment schedules. Specific use cases target attorneys managing construction law, partners and owners overseeing project finances, associates coordinating project details, and paralegals or legal assistants assisting with contract preparation. This document serves as a comprehensive tool for legally binding the parties involved in construction projects, fostering clarity in expectations and responsibilities.
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FAQ
Ing to Boundy (2012), typically, a written contract will include: Date of agreement. Names of parties to the agreement. Preliminary clauses. Defined terms. Main contract clauses. Schedules/appendices and signature provisions (para. 5).
Contract Types Comparison Party 1 offers Unilateral Services or goods that the other party requested, usually in an open request Implied Services or goods Express Anything Simple Something of value to the other party9 more rows •
