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Construction Contract for Home - Fixed Fee or Cost Plus

Contract Cost Plus Form For Contractors In Philadelphia

Category:

Construction - Contractors

State:

Multi-State

County:

Philadelphia

Control #:

US-00462

Format:

Instant download

Description

The Contract Cost Plus Form for Contractors in Philadelphia is designed to create a clear agreement between contractors and owners regarding construction projects. This form details the scope of work, including responsibilities for materials and labor, and lays out the compensation structure for contractors based on actual costs plus a predetermined fee. It includes essential sections on permits, insurance, and procedures for changes to the scope of work, ensuring comprehensive coverage for both parties. Key features include provisions for late payments, warranty limitations, and requirements for site surveys and title opinions. The form is particularly useful for attorneys, partners, and legal assistants when advising clients, as it establishes a solid legal foundation for construction agreements. Owners can use this form to ensure clarity in project costs and responsibilities, while contractors can reference it to secure compensation for actual expenses incurred during construction. Overall, this form serves as an important tool for managing construction projects effectively and legally in Philadelphia.

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FAQ

There are no statewide Pennsylvania general contractor license or certification requirements. However, any contractor who performs at least $5,000 worth of home improvements per year must register with the Attorney General's office.

Offer and Acceptance: One party must make an offer, and the other must accept it. Mutual Consent: Both parties agree to the terms without coercion. Contract law often refers to this condition as a "meeting of the minds." Competence: The parties must have the legal capacity to agree.

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).

A comprehensive guide on how to draft a contract Know your parties. Agree on the terms. Set clear boundaries. Spell out the consequences. Specify how you will resolve disputes. Cover confidentiality. Check the legality of the contract. Open it up to negotiation.

How to draft a contract between two parties: A step-by-step checklist Know your parties. Agree on the terms. Set clear boundaries. Spell out the consequences. Specify how you will resolve disputes. Cover confidentiality. Check the legality of the contract. Open it up to negotiation.

To make a legally binding contract, 5 elements must be satisfied: offer, acceptance, consideration, intention and capacity: Offer: One party makes an offer. Acceptance: The other party accepts the offer. Consideration: Each party provides consideration to the other.

Write the contract in six steps Start with a contract template. Open with the basic information. Describe in detail what you have agreed to. Include a description of how the contract will be ended. Write into the contract which laws apply and how disputes will be resolved. Include space for signatures.

Protect Yourself when Working with Custom Home Builders Only work with a licensed contractor. Get the contract in writing. Avoid “lump sum” bids. Talk to several contractors. Tie payments to deliverables. Get proof of payment to suppliers.