Construction Cost Plus With Showtime In Orange
Category:
State:
Multi-State
County:
Orange
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Plus with Showtime in Orange form is designed for use in construction contracts where the owner agrees to pay the contractor for the actual costs incurred plus a predetermined fee for their services. This contract facilitates clear communication regarding the scope of work, project location, required permits, and insurance obligations. It outlines responsibilities related to soil conditions and mandates a written change order process for any alterations to the scope of work. The form specifies payment terms, including conditions for late payments, and includes a warranty clause for workmanship defects. This document is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects. They can utilize this form to ensure compliance with legal standards, secure appropriate insurance coverages, and manage risks associated with construction projects. Users should carefully complete sections regarding the scope of work, contractor fees, and site conditions to reflect the specific project accurately.
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FAQ
The percentage of completion method is a revenue recognition accounting concept that evaluates how to realize revenue periodically over a long-term project or contract. Revenue, expenses, and gross profit are recognized each period based on the percentage of work completed or costs incurred.
