Construction Cost Contract Plus With Guaranteed Maximum Price In Queens
Category:
State:
Multi-State
County:
Queens
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Contract Plus With Guaranteed Maximum Price in Queens is designed to establish clear terms between a contractor and an owner for a construction project. This form details the scope of work, work site, permits, soil conditions, insurance requirements, and processes for making changes to the project. It incorporates provisions for a cost-plus fee structure, allowing the owner to pay for actual costs plus a predetermined fee, thus providing a guaranteed maximum price, which offers financial predictability. Filling out the contract requires the contractor and owner to clearly define all relevant details, such as project specifications and payment structures. It is essential that users document any changes to the scope of work via written change orders to avoid misunderstandings. This contract is valuable for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects, ensuring they can effectively manage expectations and obligations. The clarity and structured nature of this form make it accessible for users with varying legal backgrounds.
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FAQ
The GMP Budget is the amount the Trustees have budgeted for the construction Contract. The award of a construction contract is contingent upon receiving an actual GMP within the GMP Budget.
Maximum Allowable Construction Area (MACA) “ the combined total of the Maximum Allowable PSO and the Maximum Allowable ISA. Maximum Allowable Unpaved Surface Area (USA) “ portion of the lot that shall remain unpaved and reserved for softscaping/planting.
In short, a construction risk manager "identifies risks and comes up with methods for avoiding them," write the career experts at Indeed. "They consider the financial, legal, environmental and reputational risks that the organization and employees may face."
