The Contract Cost Plus Agreement with us in Palm Beach is a construction contract that outlines the relationship between the Contractor and the Owner for residential construction projects. This agreement specifies the scope of work, including labor and materials required for the project, and the project location. It emphasizes the Contractor's responsibility for securing necessary permits while the Owner is accountable for soil condition issues and any additional site work required. Key features include provisions for changes to the scope of work through written change orders, and a clear fee structure where the Owner agrees to pay the actual costs plus a specified amount for services. The contract also includes terms regarding late payments and warranty limitations for workmanship defects, which are valid for one year. The use of this form is particularly beneficial for attorneys, partners, and owners involved in real estate, as it provides a straightforward framework to protect interests in construction agreements. Paralegals and legal assistants will find it useful for documentation and compliance purposes, ensuring that all parties understand their rights and responsibilities throughout the construction process.
Ing to Boundy (2012), typically, a written contract will include: Date of agreement. Names of parties to the agreement. Preliminary clauses. Defined terms. Main contract clauses. Schedules/appendices and signature provisions (para. 5).
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