Home Fee Cost Plus Contract With Gmp In Minnesota
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Description
The Home Fee Cost Plus Contract with GMP in Minnesota is a critical document designed for construction projects where the owner agrees to pay the contractor based on actual costs incurred plus a predetermined fee. Key features of this contract include a detailed scope of work, outlining the responsibilities of the contractor and owner, and the procedures for obtaining necessary permits. It specifies that the contractor is not liable for soil conditions at the work site, which must be assessed by the owner prior to construction. The contract also establishes protocols for changes in work scope through written 'Change Orders' and the associated costs. Payment terms are clearly defined, including late payment penalties and a limited warranty on workmanship. This document is vital for the target audience of attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for construction agreements, ensuring legal compliance and protecting the interests of all parties involved in the construction process.
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