Construction Cost Contract Plus With Guaranteed Maximum Price 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 Guaranteed Maximum Price in Palm Beach is a vital document designed to formalize the agreement between a contractor and an owner for construction projects. It outlines the scope of work, work site specifications, and the responsibilities of both parties regarding permits, soil conditions, and insurance requirements. A significant feature of this contract is that it includes provisions for changes to the scope of work and outlines the payment structure, whether it is cost-plus or fixed fee, ensuring clear financial expectations. The document emphasizes that if additional site work is needed due to soil conditions, those costs will be the owner's responsibility. Additionally, late payment terms and warranty limitations are specified, protecting both parties in the event of disputes. This form is particularly beneficial for attorneys, partners, associates, paralegals, and legal assistants who are involved in real estate, construction law, or contract negotiations, as it provides a clear framework for managing construction agreements efficiently and legally.
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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.
