Construction Contract Cost Plus With Example In New York
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Description
The Construction Contract Cost Plus form is designed for use in New York and outlines the terms under which a contractor will be compensated for building a project based on the actual costs incurred plus an additional fee. Key features of the form include a detailed scope of work, stipulations for permits and soil conditions, insurance requirements, and procedures for making changes to the work scope. The contract specifies that the owner will be responsible for costs associated with unforeseen soil conditions, while the contractor must maintain liability and workers' compensation insurance. The cost plus clause allows for payments to be made based on actual costs plus a specified fee, which can include both labor and materials, thus providing flexibility in budgeting. Filling out the form requires accurate entry of parties' names, project details, and financial arrangements, with instructions to ensure clarity and compliance with local regulations. This form is particularly valuable for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects, as it sets clear expectations and protects all parties from potential disputes.
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