Cost Plus In Construction In Ohio
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Description
The Construction Contract form outlines the terms of a cost plus agreement in Ohio, wherein the Owner pays the Contractor for the actual cost of materials along with an additional fee for services rendered. It includes essential details such as the scope of work, work site specifications, and required permits. The contract mandates that any changes to the scope must be documented in a Change Order, with the Owner agreeing to cover any associated cost increases. The utility of this form is significant for various stakeholders: Attorneys can ensure compliance with local laws, Partners can clarify payment structures, Owners can define project details and costs, Associates can manage project oversight, while Paralegals and Legal Assistants can assist in documentation and contract processes. Key requirements such as insurance, soil condition liabilities, and warranties are also addressed, providing a comprehensive legal framework for construction projects.
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The law also places a limit on the amount a contractor can take as a down payment or deposit before work starts. Unless there are custom or specialty orders for materials, the contractor cannot ask for more than 10% upfront before work starts.
