Construction Cost Contract Plus With Guaranteed Maximum Price In Orange
Category:
State:
Multi-State
County:
Orange
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Contract Plus With Guaranteed Maximum Price in Orange is a specialized agreement designed to facilitate a construction project between a Contractor and an Owner. This form outlines crucial elements such as the scope of work, assigning responsibilities, and clarifying costs associated with the project. Key features include provisions for obtaining necessary permits, managing soil conditions, and detailing insurance requirements. It also allows for changes to the work scope through written Change Orders, ensuring flexibility while maintaining cost transparency. The Contractor's fee can be based on actual costs plus a fixed fee or a predetermined fixed amount, giving the Owner clarity on budgeting. The form includes a late payment clause and warranty terms to protect both parties' interests. This document is especially useful for attorneys, partners, owners, associates, paralegals, and legal assistants who manage construction contracts and require clear frameworks that govern construction projects. Proper completion and understanding of this form help facilitate legal compliance and minimize disputes during the construction process.
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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.
