Cost Plus Construction Contract With Guaranteed Maximum Price In Orange
Category:
State:
Multi-State
County:
Orange
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Construction Contract with Guaranteed Maximum Price in Orange is a comprehensive agreement between a contractor and an owner detailing the construction of a residence. Key features include a clear scope of work, specifications for the work site, and obligations regarding permits and insurance. The contract allows for adjustments in the project's scope through written change orders, ensuring that any modifications are documented and that the owner agrees to cover additional costs. Notably, the cost structure can either be based on actual costs plus a fee or a fixed fee, offering flexibility in payment arrangements. The contractor maintains limited warranty obligations, covering workmanship defects for one year. This form is particularly useful for attorneys, partners, and owners involved in construction projects, providing a clear legal framework to protect their interests. Paralegals and legal assistants can utilize this form to ensure compliance with local regulations and proper documentation of changes. Overall, this contract serves as a vital tool for managing expectations, responsibilities, and liabilities in construction agreements.
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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.
Maximum Allowable Construction Area (MACA) “ the combined total of the Maximum Allowable PSO and the Maximum Allowable ISA. Maximum Allowable Unpaved Surface Area (USA) “ portion of the lot that shall remain unpaved and reserved for softscaping/planting.
