Cost Plus Contract In Construction In North Carolina
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Description
The Cost Plus Contract in Construction in North Carolina outlines a construction agreement where the owner pays the contractor for the actual costs of materials plus a specified fee. Key features of this contract include the scope of work, responsibilities for obtaining necessary permits, and conditions regarding soil conditions, insurance requirements, and boundary surveys. The form requires detailed filling and editing with sections designated for the specification of project details, payment terms, and any changes to the scope of work through written change orders. It's vital for users to note that any costs incurred from alterations are ultimately the owner's responsibility. The utility of this form is significant for attorneys, partners, and owners as it details legal obligations and entitlements, ensuring compliance with local regulations. Paralegals and legal assistants can assist in preparing and reviewing the contract for accuracy, while associates may benefit by understanding the implications of cost fluctuations through this contract format.
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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.
