Cost Plus Contract For Construction In North Carolina
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Description
The Cost Plus Contract for construction in North Carolina is a legal document that outlines an agreement between a Contractor and an Owner for building a residence. This contract includes key features such as a detailed scope of work, specifications for permits, and the responsibilities of both parties regarding soil conditions and insurance. The contract allows for modifications through written Change Orders, ensuring any increased costs are covered by the Owner. The Contractor's fee is calculated as the actual cost of materials plus an additional agreed-upon sum, making it financially flexible for the Owner. Specific provisions address late payments and warranty conditions, protecting both parties involved. This form is particularly beneficial for attorneys, partners, and owners as it ensures clarity in contractual obligations. Paralegals and legal assistants can utilize this document to assist clients in understanding their rights and responsibilities, while associates may find it helpful in negotiating and drafting provisions according to local regulations. Overall, the form serves as a comprehensive guide to facilitate the construction process while minimizing disputes.
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FAQ
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.
