Cost Plus Construction Contract With Gmp In Montgomery
Category:
State:
Multi-State
County:
Montgomery
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Construction Contract with GMP in Montgomery is a legally binding agreement that outlines the responsibilities and expectations of the Contractor and the Owner involved in a construction project. It specifies the scope of work, including the labor and materials required to construct a residence, and emphasizes that all changes to the project's scope must be documented through written Change Orders. The contract operates on a cost-plus basis, where the Owner agrees to pay the actual cost of materials plus a specified fee for Contractor services. Notably, the Contractor is responsible for obtaining the necessary permits and maintaining insurance to cover potential risks during the construction process. Furthermore, the contract places the burden of soil condition assessments on the Owner, stating that any additional work related to soil conditions will be an extra expense. Key features of the contract include provisions for late payment penalties, a warranty for defects in workmanship, and the requirement for a boundary survey and title opinion before construction begins. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear structure for managing construction projects while addressing legal responsibilities, financial arrangements, and risk management.
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