Cost Plus Construction Contract Example In North Carolina
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The Cost Plus Construction Contract example in North Carolina is designed for clarity between a contractor and an owner for residential projects. It outlines the contractor's obligation to provide labor and materials as specified in the project plans and details the work site’s location. The form emphasizes the need for permits, which the contractor is responsible for obtaining, and addresses soil condition responsibilities, ensuring the owner is aware of potential additional costs if unusual site conditions arise. Insurance provisions are included to protect both parties, and a boundary survey and title opinion must be provided by the owner prior to construction. Importantly, it provides for changes to the scope of work through written change orders, allowing for flexibility in project management. The payment structure is defined as a cost plus format, where the owner pays the contractor's actual costs plus a set fee, ensuring transparency in expenses. Late payment terms are clearly stated to protect the contractor's interests. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who are involved in construction law, providing a structured approach to contractual obligations and potential liabilities.
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How To Write A Construction Contract With 7 Steps Step 1: Define the Parties Involved. Step 2: Outline the Scope of Work. Step 3: Establish the Timeline. Step 4: Determine the Payment Terms. Step 5: Include Necessary Legal Clauses. Step 6: Address Change Orders and Modifications. Step 7: Sign and Execute the Contract.
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.
