Construction Contract Cost Plus Withholding In Palm Beach
Category:
State:
Multi-State
County:
Palm Beach
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract for cost plus withholding in Palm Beach is a legal document outlining the agreement between the Contractor and Owner for a construction project. Key features include the scope of work, the work site details, and responsibility for permits and soil conditions. The contract stipulates that the Contractor is responsible for obtaining necessary permits, while the Owner is responsible for any additional site work required due to soil conditions. Payment terms include options for cost plus or fixed fee agreements, with provisions for late payments and penalties. Additionally, there is a warranty clause covering workmanship defects for one year. This form is invaluable for attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a clear framework for construction agreements, ensuring all parties understand their obligations and rights. Users can easily fill in required details such as project specifications and payment terms, making edits as necessary for individual projects. The contract promotes transparency and accountability, crucial for successful construction management.
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FAQ
Does Florida limit the amount of retainage that can be withheld from a contractor? Under Florida's new retainage laws, retainage is capped at 5% of each progress payment. While the requirement to reduce retainage percentage at 50% completion is no longer in effect, the contract can provide for a reduction.
