Cost Plus Contract In Costing In Montgomery
Category:
State:
Multi-State
County:
Montgomery
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Contract in Costing in Montgomery outlines the agreement between a contractor and owner regarding the construction of a specified project. This contract details the contractor's responsibilities, including obtaining necessary permits and handling specific site conditions. A key feature is the 'Cost Plus' payment structure, where the owner agrees to cover the actual costs incurred by the contractor, plus an additional fee for services. The document also includes instructions for making changes to the scope of work, which must be documented via written change orders. It highlights the importance of clarity on insurance, warranties, and payment terms, including penalties for late payments. This form serves various legal professionals including attorneys, partners, owners, associates, paralegals, and legal assistants, providing them with a clear framework to facilitate construction agreements, manage costs, and safeguard their interests in contractual obligations.
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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.
