Cost Plus Construction Contract With Guaranteed Maximum Price In Ohio

• Category: Construction - Contractors
• State: Multi-State
• Control #: US-00462
• Format: Word; Rich Text

Description

The Cost Plus Construction Contract with Guaranteed Maximum Price in Ohio is a comprehensive legal document that outlines the terms and conditions under which a Contractor will perform construction services for an Owner. Key features include the detailed scope of work, insurance requirements, and provisions for changes in the project that require written 'Change Orders'. This contract establishes a cost-plus compensation structure where the Owner pays for actual materials, plus an agreed-upon fee for services, ensuring the Contractor is incentivized to manage costs effectively while providing quality work. Users must carefully complete sections related to the scope of work, project site, and fee structure, and can edit the contract to reflect specific project needs. The form is especially valuable for attorneys, partners, owners, associates, paralegals, and legal assistants, as it sets clear expectations between parties and protects interests by outlining important elements such as late payment penalties and warranty limitations. This contract is ideal for residential construction projects, providing both flexibility in managing costs and a cap on overall expenses.