Home Fee Cost Plus Contract For Construction In Montgomery
Category:
State:
Multi-State
County:
Montgomery
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Home Fee Cost Plus Contract for Construction in Montgomery is a legally binding agreement between a contractor and an owner for residential construction. This contract outlines the scope of work, where the construction will take place, and necessary permits, highlighting that the contractor is responsible for securing these permits at the owner's expense. It includes a clear notice that the contractor is not liable for soil conditions at the work site, and any additional work required due to soil conditions will be an extra cost for the owner. Importantly, the contract allows for changes in scope, requiring written change orders for any modifications, with the owner agreeing to cover additional costs resulting from these changes. The payment structure can be either cost plus, where the owner pays the actual cost of materials plus a set fee for services, or a fixed fee. The contract establishes late payment penalties and limits the contractor’s warranty to one year for workmanship defects. This document is crucial for attorneys, partners, owners, associates, paralegals, and legal assistants looking to navigate construction agreements, ensuring clarity in roles, responsibilities, and financial agreements, thus protecting both parties involved.
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FAQ
Percentage-Based Fees The percentage depends on the type of project but is typically between 6% and 15%, depending on the size and complexity.
