Construction Contract Cost Plus With Gmp In Palm Beach
Category:
State:
Multi-State
County:
Palm Beach
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract Cost Plus with GMP in Palm Beach is a formal agreement between a contractor and an owner for construction work, focusing on a cost-plus pricing structure with a guaranteed maximum price (GMP). Key features include a detailed scope of work, the work site location, and responsibilities regarding permits, soil conditions, and insurance. It stipulates that the contractor will be compensated for actual costs incurred plus a fixed fee for services rendered. The form allows for changes to the scope of work through written change orders and outlines conditions for late payments and warranties. This contract is particularly useful for attorneys, partners, and associates involved in construction law, ensuring clarity on financial responsibilities and outlining legal protections for both parties. Paralegals and legal assistants can utilize this form for preparing documents and facilitating communication between contractors and owners, thereby streamlining the construction process. The form is tailored for users in Palm Beach, considering regional legal requirements.
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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.
