Contract Cost Plus Agreement With Example In Pennsylvania
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Description
The Contract Cost Plus Agreement, specifically tailored for construction projects in Pennsylvania, outlines the financial arrangements between the contractor and the owner, emphasizing the contractor's right to charge for actual costs plus a predetermined fee. It includes essential components such as the project scope, site description, permit responsibilities, and provisions for insurance and soil conditions. A noteworthy feature is the flexibility it offers owners for modifying project specifications through written change orders, which can impact overall project costs. The form outlines specific provisions for payment terms and late payment penalties, ensuring clear financial expectations. Users benefit from clear instructions for completing each section, making it accessible even for those with limited legal experience. It is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects, allowing them to establish clear expectations and protections in contractual agreements. The contract also highlights warranty limitations, enhancing transparency regarding liability. Overall, this form serves as a comprehensive guide for managing construction costs and maintaining accountability throughout the project.
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FAQ
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).
