Cost Plus Fee Construction Contract In Nevada
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Description
The Cost Plus Fee Construction Contract in Nevada is a legally binding agreement between a contractor and an owner for the construction of a specified project. This contract outlines the scope of work, the work site, and responsibilities regarding permits and soil conditions. One key feature is the cost plus fee structure, where the owner agrees to pay the actual costs of materials plus an additional fee for the contractor's services. The contractor must obtain necessary permits and maintain appropriate insurance. Changes can be made to the scope of work through written change orders, and any additional costs incurred must be paid by the owner. The contract includes provisions for late payments and warranties on workmanship. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction-related legal matters or agreements. It provides a clear structure for outlining expectations and responsibilities, making it an essential tool in ensuring compliance and protecting the interests of all parties involved.
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FAQ
Work to repair or maintain property valued at less than $1,000, including labor and materials, unless certain conditions apply (e.g., building permit required, type of work, contractor's license).
The License Monetary Limit is the maximum contract amount that can be undertaken for one client on a single construction site.
As a general rule of thumb your contractor rate should be at least 50% more than you'd get for the same work as an employee.
