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Construction Contract for Home - Fixed Fee or Cost Plus

Contract Cost Plus Form With Two Points In Ohio

Q: What is section 153.63 of the Ohio revised code?

Section 153.63 Agreement for escrow account for contractor. Ohio Revised Code. Title 1 State Government. Chapter 153 Public Improvements.

Q: What is Section 153.67 in Ohio Revised Code?

Section 153.67 Announcing contracts available for professional design or design-build services. Each public authority planning to contract for professional design services or design-build services shall publicly announce all contracts available from it for such services.

Q: What is Section 153.71 of the Ohio Revised Code?

Section 153.71 Administrative rules. (A) Any public authority planning to contract for professional design services or design-build services may adopt, amend, or rescind rules, in ance with Chapter 119.

Category:

Construction - Contractors

State:

Multi-State

Control #:

US-00462

Format:

Instant download

Description

The Contract Cost Plus Form with Two Points in Ohio is a legally binding document facilitating construction agreements between a contractor and property owner. It outlines essential aspects such as the scope of work, worksite location, necessary permits, and the responsibilities of both parties. A key feature of this form is the option for the payment structure, allowing owners to either pay the actual cost of materials plus a contractor fee or agree to a fixed fee. This flexibility caters to varying project budgets and complexities. Filling instructions emphasize detailing the work description and payment terms clearly for mutual understanding. Additionally, the form emphasizes communication regarding changes in scope, requiring written change orders to document any adjustments effectively. The target audience, including attorneys, partners, owners, associates, paralegals, and legal assistants, can benefit from this form by ensuring legal compliance and clarity in project execution. This form is particularly useful for managing potential disputes over costs and responsibilities while delineating obligations related to insurance and soil conditions, thus supporting smooth project completion.

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FAQ

Section 153.63 | Agreement for escrow account for contractor. Ohio Revised Code. Title 1 State Government. Chapter 153 Public Improvements.

Section 153.67 | Announcing contracts available for professional design or design-build services. Each public authority planning to contract for professional design services or design-build services shall publicly announce all contracts available from it for such services.

Section 153.71 | Administrative rules. (A) Any public authority planning to contract for professional design services or design-build services may adopt, amend, or rescind rules, in ance with Chapter 119.

Today, many industry-standard construction contracts contain a “correction period,” which is a period of time (typically one year) following final project completion during which an owner may require the contractor to return to the job site and correct defective work at the contractor's expense.