Cost Plus Contract In Simple Words In Phoenix
Category:
State:
Multi-State
City:
Phoenix
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Contract in simple words in Phoenix is a legal agreement between a contractor and an owner where the owner pays for the actual costs of materials plus an additional fee for the contractor's services. This type of contract is beneficial because it offers flexibility for changes in project scope, which can happen frequently in construction. Key features include provisions for permits, insurance, changes to the work scope, and a warranty on workmanship. Users must fill in the specific details such as the contractor's fee and project information. Legal professionals like attorneys and paralegals will find it useful in drafting and reviewing contracts, ensuring all state requirements are met. Partners and owners can utilize the form to manage financial aspects and project specifications effectively. Overall, this contract addresses common construction issues, establishing clear responsibilities and costs, which aids in preventing disputes during and after the project completion.
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