Cost Plus Construction Contract With Guaranteed Maximum Price In Oakland
Category:
State:
Multi-State
County:
Oakland
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Construction Contract with Guaranteed Maximum Price in Oakland outlines an agreement between the contractor and the owner for a construction project. Key features include a defined scope of work, details regarding the work site, and requirements for permits. The contract stipulates that the contractor will be compensated for actual costs plus a set fee, ensuring financial transparency while establishing a maximum limit to avoid excessive spending. There are provisions for changes to the scope of work, requiring written change orders and adjustments to costs. It also addresses insurance responsibilities, soil condition liabilities, and necessary documentation before construction starts. This form serves various legal professionals, providing clarity on responsibilities and financial terms. Attorneys can utilize it for contract drafting, while paralegals and legal assistants can aid in compliance monitoring. Moreover, owners benefit from understanding their rights and obligations, making it suitable for anyone involved in a construction project.
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FAQ
Maximum Allowable Construction Area (MACA) “ the combined total of the Maximum Allowable PSO and the Maximum Allowable ISA. Maximum Allowable Unpaved Surface Area (USA) “ portion of the lot that shall remain unpaved and reserved for softscaping/planting.
The GMP Budget is the amount the Trustees have budgeted for the construction Contract. The award of a construction contract is contingent upon receiving an actual GMP within the GMP Budget.
