Cost Plus Fee Contract Example In Minnesota
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The Cost Plus Fee Contract example in Minnesota is a comprehensive agreement between a contractor and owner outlining the obligations and responsibilities related to a construction project. Key features include a clear scope of work, definition of the work site, and the contractor's responsibilities concerning permits and insurance. This form allows for the contractor to be compensated for the actual costs of materials plus a predetermined fee, which must be specified in the contract. Users are instructed to detail any changes to the project scope through a written change order, ensuring transparency regarding additional costs. The contract also includes provisions for late payments and warranty limitations, which protect both parties' interests. It is particularly useful for attorneys, partners, and construction professionals who advise clients in real estate or construction law, ensuring legal compliance and addressing potential disputes. Paralegals and legal assistants may find this form beneficial for streamlining contract preparation and promoting effective client communication in construction projects.
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Protect Yourself when Working with Custom Home Builders Only work with a licensed contractor. Get the contract in writing. Avoid “lump sum” bids. Talk to several contractors. Tie payments to deliverables. Get proof of payment to suppliers.
