Cost Plus Construction Contract With Gmp In New York
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Description
The Cost Plus Construction Contract with GMP in New York is a legal document entered into by a contractor and an owner for construction projects. This contract outlines the scope of work, which includes all necessary labor and materials as specified in the included plans and specifications. It clarifies the work site location and stipulates that the contractor is responsible for obtaining necessary permits for the project. The contract explicitly states that the contractor bears no responsibility for soil conditions at the work site. Key features include provisions for insurance, change orders in scope, payment terms, and warranties related to the construction work performed. This form is particularly useful for attorneys, partners, and owners as it provides a structured framework for negotiating terms and protecting interests during construction. Associates, paralegals, and legal assistants can rely on this contract for drafting and ensuring compliance with legal standards during construction projects. Clear instructions for filling and editing are essential to ensure all parties understand their obligations and rights under the contract.
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FAQ
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.
