Construction Cost Contract Plus With Gmp In New York

State:
Multi-State
Control #:
US-00462
Format:
Word; 
Rich Text
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Description

The Construction Cost Contract Plus with GMP in New York is a binding agreement between a Contractor and an Owner for the construction of a project as specified in detailed plans and specifications. Key features include a defined scope of work, stipulations on permits, and soil condition responsibilities. It allows for owner-directed changes to the scope of work through written Change Orders, with associated costs covered by the Owner. The contract presents two payment structure options: Cost Plus or Fixed Fee, detailing how and when payments are to be made. It also includes terms for late payments, warranties limited to workmanship, and assigns material warranties to the Owner. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants in drafting agreements that protect their interests while ensuring clarity in project execution. Legal professionals can utilize this form to organize responsibilities, manage costs, and ensure compliance with local construction laws.
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  • Preview Construction Contract for Home - Fixed Fee or Cost Plus
  • Preview Construction Contract for Home - Fixed Fee or Cost Plus

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FAQ

The major difference between lump sum and EPC is that, in EPC the contractor has the responsibility of design and construction. b. Where as in lump sum contract the design and drawings are prepared by the technical team of the owner.

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Construction Cost Contract Plus With Gmp In New York