Construction Cost Plus With Example In Nassau

• Category: Construction - Contractors
• State: Multi-State
• County: Nassau
• Control #: US-00462
• Format: Word; Rich Text

Description

The Construction Contract is a legal document outlining the partnership between a Contractor and an Owner for a construction project, structured as a cost-plus agreement. In this form, the Owner agrees to pay the Contractor the actual costs incurred for materials and labor, plus an additional fee for services. For example, in Nassau, if the Contractor's material costs amount to $50,000, and their agreed service fee is $10,000, the Owner will be responsible for a total payment of $60,000. Key features include the definition of the scope of work, insurance obligations, procedures for permits, and a clear outline of the payment structure. The form provides guidance on making changes through written 'Change Orders,' ensuring that any additional costs are agreed upon by both parties before proceeding. This contract is vital for attorneys, partners, and owners as it clearly defines responsibilities, protects interests, and outlines financial agreements. Paralegals and legal assistants can utilize this form to streamline contract processes, ensuring compliance and clarity in construction agreements.