Construction Cost Contract Plus With Gmp In Orange
Category:
State:
Multi-State
County:
Orange
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Contract Plus with GMP in Orange outlines the agreement between a Contractor and an Owner for constructing a residence. It details the scope of work, work site location, and responsibilities for obtaining necessary permits. This contract specifies that the Contractor is not liable for soil conditions at the work site and includes a clause on insurance requirements for the Contractor. Changes to the scope of work are permitted through written Change Orders, with the Owner agreeing to cover any additional costs incurred. Payment terms are flexible, allowing for both cost-plus and fixed fee arrangements. A late payment penalty is included, along with a warranty that limits the Contractor's liability to workmanship defects within one year. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear structure for legal obligations, protects interests, and ensures compliance with local regulations while facilitating smooth project execution.
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FAQ
The GMP Budget is the amount the Trustees have budgeted for the construction Contract. The award of a construction contract is contingent upon receiving an actual GMP within the GMP Budget.
