Cost Plus Contract In Simple Words In Queens
Category:
State:
Multi-State
County:
Queens
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Contract is an agreement wherein the Owner pays the Contractor for actual costs of materials plus an additional fee for the services provided. This type of contract is beneficial in Queens, as it allows for flexibility in construction costs and may lead to more accurate budgeting for the Owner. Key features include a detailed scope of work, explicit permits responsibilities, and conditions regarding soil and insurance. Filling out the form requires precise inputs for the project scope and location, alongside clear payment terms. The contract also includes provisions for changes in project scope, which must be documented in writing. Utility of this form extends to various legal professionals; Attorneys may use it for drafting, while Partners and Owners can rely on it for clear agreements on costs. Associates, Paralegals, and Legal Assistants can assist in the completion and review of the document ensuring accuracy and compliance with local regulations. Overall, it supports a structured approach to managing construction projects in Queens.
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