Cost Plus Contract With Example In New York
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Description
The Cost Plus Contract is an essential construction contract that outlines the agreement between the contractor and the owner for projects, particularly in New York. This contract allows the owner to pay the contractor for the actual costs incurred for materials plus an additional fee for services rendered. Key features include detailed sections on the scope of work, work site, permits, soil conditions, insurance requirements, title survey, and change orders. It is vital that the contractor retains records of actual costs to ensure transparency. Filling instructions emphasize that owners specify the details of the additional service fees. The contract serves various use cases such as managing residential construction projects and accommodating fluctuations in material costs. Target users, including attorneys, partners, owners, associates, paralegals, and legal assistants, will find this contract beneficial for clear legal documentation and compliance with local requirements.
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