Contract Cost Plus Agreement With Example In Montgomery
Category:
State:
Multi-State
County:
Montgomery
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Contract Cost Plus Agreement is a legal document that outlines the terms under which a contractor will be compensated for construction services based on actual costs incurred, plus an additional agreed-upon fee. In Montgomery, this agreement can be particularly useful as it provides flexibility for both owners and contractors in managing project costs effectively. Key features of the form include a detailed scope of work, responsibilities of both parties, and provisions for potential changes in the scope that may lead to increased costs. The form also includes crucial sections on permits, soil conditions, insurance requirements, and warranty terms. Filling and editing instructions emphasize the need for clear specifications regarding project details and payment terms to avoid disputes. This contract is ideally suited for attorneys, partners, owners, associates, paralegals, and legal assistants who are involved in construction projects, as it ensures all parties understand their obligations and rights. By using this form, parties can navigate the complexities of construction contracts with confidence, minimizing legal risks and promoting collaboration in project execution.
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FAQ
As a general rule, if the owner hired whoever drafted the construction plans, or if whoever drafted the faulty plans is an employee or agent of the owner, it is the owner who will be liable for defective plans.
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).
