Cost Plus For Construction In Pima
Category:
State:
Multi-State
County:
Pima
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus for Construction in Pima is designed for use in construction contracts where the compensation for the contractor is based on actual costs incurred plus a fee. This document outlines essential elements such as scope of work, work site details, and responsibilities regarding permits and soil conditions. Key features include provisions for changes in the scope of work which require written change orders, as well as a clearly defined contractor’s fee structure, accommodating both cost plus and fixed fee arrangements. The form emphasizes the importance of insurance and liability matters, holding contractors accountable for their obligations. Users such as attorneys, partners, and owners can benefit from this form by ensuring a clear agreement that protects their interests while outlining the financial and legal responsibilities involved in a construction project. Legal assistants and paralegals will find the form valuable for maintaining proper documentation and understanding the legal obligations of both parties. This form aids in navigating various issues that might arise during construction, ensuring compliance with local regulations, and managing potential disputes effectively.
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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.
