Cost Plus In Construction In Phoenix
Category:
State:
Multi-State
City:
Phoenix
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus construction contract is crucial for projects in Phoenix, allowing for flexible pricing based on actual material costs plus a set fee for the contractor's services. This form outlines the responsibilities and obligations of both the Contractor and Owner, ensuring clarity and transparency throughout the construction process. Key features include a scope of work, work site details, and provisions for permits, insurance, and changes to the project. Filling instructions emphasize providing accurate descriptions of the project and specified amounts for contractor fees. It is particularly useful for attorneys, partners, and owners to establish clear agreements and provisions for changes and costs. Associates, paralegals, and legal assistants can utilize the form to streamline project management and ensure compliance with local regulations. The document also highlights the need for comprehensive planning regarding soil conditions and the importance of warranties. This contract aims to mitigate risks and foster a collaborative construction environment.
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FAQ
The percentage of completion method is a revenue recognition accounting concept that evaluates how to realize revenue periodically over a long-term project or contract. Revenue, expenses, and gross profit are recognized each period based on the percentage of work completed or costs incurred.
