Home Fee Cost Plus Contract With Gmp In New York
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Description
The Home Fee Cost Plus Contract with GMP in New York is a construction contract that establishes terms between a contractor and an owner for the construction of a residence. Key features include a detailed scope of work, responsibility for permits, and provisions for soil conditions. The contractor must maintain relevant insurance and is not liable for site conditions unless specified by the owner. The contract allows for changes in the scope of work through written change orders, and outlines payment terms based on either cost plus or fixed fee arrangements. Late payments incur charges, and warranties are limited to workmanship defects for one year. This contract is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who are navigating construction projects in New York, as it provides a clear framework for obligations and protections, ensuring compliance with local regulations and expectations.
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