Contract Cost Plus Agreement With Gmp In Pima
Category:
State:
Multi-State
County:
Pima
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Contract Cost Plus Agreement with GMP (Guaranteed Maximum Price) in Pima is a construction contract between a contractor and an owner detailing the obligations of both parties for a specific project. This agreement outlines the scope of work, identification of the work site, and stipulations for obtaining necessary permits. It includes provisions regarding soil conditions, insurance requirements, and the need for a boundary survey and title opinion prior to construction. A key feature is the cost structure where the owner pays actual costs plus a set fee, with options for fixed fees as well. The contract establishes procedures for changes to the scope of work through written change orders and stipulates payment terms, including penalties for late payments. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects, as it provides a clear framework for negotiations and responsibilities, ensuring all parties are legally protected and informed.
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FAQ
Disadvantages of GMP contracts Potential for disputes: While shared savings can be an advantage, it can also lead to disagreements over project management decisions, especially if there's a perception that savings are being prioritized over quality.
GMP, which stands for Good Manufacturing Practices, is a system that ensures that manufactured products—such as food, cosmetics, and pharmaceutical goods—are consistently produced and controlled ing to set quality standards.
Series A O/C Agreements. B O/A Agreements. C Other Agreements. D Miscellaneous. E Exhibits. F Facility Management. G Forms.
