Cost Plus Contract For Construction In New York

• Category: Construction - Contractors
• State: Multi-State
• Control #: US-00462
• Format: Word; Rich Text

Description

The Cost Plus Contract for Construction in New York is a legal document designed for contracting parties involved in residential construction projects. This contract stipulates that the Owner will pay the Contractor for the actual costs incurred during the project, plus an additional fee for services rendered. It outlines key components including the scope of work, work site details, requirements for obtaining permits, and responsibilities related to soil conditions. The document also specifies insurance obligations and procedures for making changes to the scope of work via written Change Orders. A crucial aspect is the late payment clause, which stipulates penalties for overdue payments. This form provides a structured approach for both parties, ensuring clarity in financial transactions and responsibilities during the construction process. Target users such as attorneys, partners, owners, associates, paralegals, and legal assistants will find this contract useful for its comprehensiveness in detailing obligations, making it easier to manage expectations and reduce disputes.