Cost Plus Construction Contract With Guaranteed Maximum Price In Nevada
Instant download
Description
The Cost Plus Construction Contract with Guaranteed Maximum Price in Nevada is designed to outline the terms under which a contractor engages with an owner for a construction project. This contract specifies the scope of work, work site details, permits, soil conditions, insurance requirements, and warranty terms. Notably, it incorporates a cost-plus fee structure, where the owner agrees to pay the actual costs incurred by the contractor plus a fixed fee. Additionally, the contract allows for changes in the scope of work through written 'Change Orders,' allowing flexibility during the project. The contractor's liability is limited concerning soil conditions, thereby protecting them from unforeseen geological issues. Filling instructions include detailing the scope of work, payment schedules, and obtaining necessary permits. This form is particularly useful for attorneys, owners, and paralegals involved in real estate and construction, as it provides a clear framework to manage project costs and responsibilities effectively, ensuring legal protection and clarity for all parties involved.
Free preview
Form popularity
FAQ
They work closely with project managers, health and safety teams, human resources and legal teams. Risk managers create policies to protect assets and minimise accidents, mistakes, budget loss or public liability.
One of the biggest benefits of the Construction Manager-at-Risk (CM-R) delivery method is the development of a working partnership between the Owner, design team, and contractor. Typically, with the CM-R process, the contractor will be hired during the design phase shortly after an architect has been selected.
The GMP Budget is the amount the Trustees have budgeted for the construction Contract. The award of a construction contract is contingent upon receiving an actual GMP within the GMP Budget.
