Cost Plus Construction Contract With Guaranteed Maximum Price In Phoenix
Category:
State:
Multi-State
City:
Phoenix
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Construction Contract With Guaranteed Maximum Price in Phoenix outlines a legal agreement between a Contractor and an Owner for a construction project. This contract specifies the scope of work, detailing the responsibilities of both parties and the project location. Key features include provisions for permits, insurance requirements, and management of soil conditions. The contract emphasizes that any changes to the scope must be documented via a written change order, allowing for flexibility in project adjustments at the Owner's expense. A critical aspect is the contractor's fee structure, which can be based on actual costs plus a set amount, ensuring a guaranteed maximum price. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it offers a clear framework for construction projects while protecting the interests of all parties involved. It promotes transparency in costs and responsibilities, reducing potential disputes. The formatting allows for easy filling and editing, making it accessible for users with varying levels of legal experience.
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FAQ
One of the biggest benefits of the Construction Manager-at-Risk (CM-R) delivery method is the development of a working partnership between the Owner, design team, and contractor. Typically, with the CM-R process, the contractor will be hired during the design phase shortly after an architect has been selected.
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.
