Construction Contract Cost Plus With Example In Queens
Category:
State:
Multi-State
County:
Queens
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract Cost Plus form is a vital tool for parties engaged in construction projects, particularly in Queens, New York. This contract outlines the agreement between the contractor and owner, emphasizing a cost-plus payment structure where owners pay for the actual costs of materials plus an additional fee for the contractor's services. For example, if the total material costs amount to $50,000, the owner might agree to pay an extra $10,000 for the contractor's work, totaling $60,000. Key features of this form include detailed sections on scope of work, work site specifics, permit acquisition, insurance requirements, and provisions for handling changes to the project's scope. Users should fill in all relevant information, including project specifics and payment terms, while ensuring clarity by utilizing written change orders for project modifications. The form is especially useful for attorneys, partners, owners, associates, paralegals, and legal assistants who manage contracts, enabling them to maintain clarity and legal compliance throughout the project. It helps prevent disputes by outlining responsibilities and expectations, making it an essential tool for effective project management.
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FAQ
Lesson Summary. A contract is a legal agreement between two or more parties in which they agree to each other's rights and responsibilities. Offer, acceptance, awareness, consideration, and capacity are the five elements of an enforceable contract.
A legally enforceable contract must include an offer, acceptance, consideration, capacity, legality, and mutual assent.
To be legally enforceable, an agreement must contain all of the following criteria: An offer and acceptance; Certainty of terms; Consideration; An intention to create legal relations; Capacity of the parties; and, Legality of purpose.
