Construction Cost Plus With Example In New York
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Description
The Construction Contract outlines the agreement between the Contractor and Owner regarding a construction project in New York. Specifically, it employs a cost-plus fee structure, where the Owner agrees to pay the Contractor actual costs for materials plus a fixed fee for services provided. The form details important elements such as the scope of work, work site, necessary permits, soil conditions, and insurance requirements. It also stipulates that any project changes must be documented through written Change Orders, which may lead to increased costs, underscoring the need for clear communication and budgeting. This contract is particularly useful for Attorneys, Partners, Owners, Associates, Paralegals, and Legal Assistants, as it provides a clear framework for responsibilities and liabilities. Users must carefully fill in site specifics, cost estimates, and change orders to ensure compliance and avoid disputes. The format facilitates easy editing, allowing parties to adjust certain sections as needed while maintaining legal integrity.
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FAQ
Costs vary based on size, scope, materials, and labor. While the foundation and framing generally represent the most significant expenses, labor costs can also add up quickly.
Protect Yourself when Working with Custom Home Builders Only work with a licensed contractor. Get the contract in writing. Avoid “lump sum” bids. Talk to several contractors. Tie payments to deliverables. Get proof of payment to suppliers.
