Contract Cost Plus Agreement With Example In Palm Beach

• Category: Construction - Contractors
• State: Multi-State
• County: Palm Beach
• Control #: US-00462
• Format: Word; Rich Text

Description

The Construction Contract featuring a Contract Cost Plus Agreement is designed to outline the obligations of the Contractor and the Owner for a construction project in Palm Beach. The key feature of a cost plus agreement is that the Owner agrees to pay the Contractor for the actual costs incurred for materials, plus an additional fee for services, ensuring transparency in budgeting. Users can specify the project scope, work site, and necessary conditions including obtaining permits and insurance obligations. This form simplifies modifications through written Change Orders, allowing adjustments to the project scope while maintaining a clear payment structure. The parties must follow specific filling instructions by providing detailed information about the outline of services, work site, and compensation. This form is particularly useful for attorneys, owners, and paralegals, as it lays out legal protections and responsibilities, and guides the execution of construction agreements. Legal Assistants and Associates can benefit from understanding the implications of insurance, late payment clauses, and warranty conditions, ensuring compliance and clarity throughout the process.