Cost Plus Fee Contract Example In Ohio
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Description
The Cost Plus Fee Contract example in Ohio is a legally binding document designed for construction projects, outlining the agreement between the Contractor and the Owner. This contract specifies the scope of work, the construction site details, and the responsibilities of both parties, including obtaining necessary permits and managing soil conditions. A key feature is the Cost Plus Fee structure, allowing the Owner to pay for the actual costs of materials plus an agreed-upon fee for the Contractor's services. Users will find instructions for making changes to the project scope through written Change Orders, which may affect the project's total cost. Late payment penalties are also included in the contract, emphasizing the importance of timely financial transactions to avoid additional charges. This form is especially useful for legal professionals such as attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate and construction law, providing a clear framework for managing project expenses and legal obligations. It assists legal practitioners in ensuring compliance and protecting their clients’ interests throughout the building process.
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