Home Fee Cost Plus Contract With Guaranteed Maximum In Ohio

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

Description

The Home fee cost plus contract with guaranteed maximum in Ohio establishes a legally binding agreement between a contractor and an owner for the construction of a residence. This contract outlines the scope of work, work site, permit responsibilities, and insurance requirements. It includes provisions for changes to the scope of work, detailing that any adjustments must be formally documented through a change order. The payment structure is flexible, allowing for either a cost plus or fixed fee arrangement, ensuring owners understand how they will be charged for services rendered. Additionally, the contract stipulates conditions regarding late payments and provides a warranty limited to defects in workmanship for one year. This comprehensive form is essential for attorneys, partners, owners, associates, paralegals, and legal assistants dealing with construction projects, helping them navigate liability, regulatory compliance, and cost management effectively.