Construction Cost Contract 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 Cost Contract Plus with GMP in Palm Beach is a legal agreement between a contractor and an owner outlining the terms for a construction project. It specifies the scope of work, including labor and materials to be provided by the contractor, as well as the location of the project. Key features include provisions for obtaining necessary permits, handling soil conditions, maintaining insurance, and processing changes to the scope of work through written change orders. The contract also details payment structures, allowing for either cost-plus or fixed-fee arrangements, and outlines penalties for late payments. With warranties limited to workmanship defects for one year, it assigns material warranties from manufacturers to the owner. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate or construction law, as it provides a clear framework for managing construction projects and protecting the interests of all parties involved. By using this contract, users can ensure that responsibilities are clearly defined, risks are managed, and financial obligations are documented.
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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.
