Home Fee Cost Plus Contract With Guaranteed Maximum In Queens
Category:
State:
Multi-State
County:
Queens
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Home Fee Cost Plus Contract with Guaranteed Maximum in Queens is a construction agreement that outlines the responsibilities of the contractor and owner regarding a residential project. This form includes key features such as a detailed scope of work, work site information, insurance requirements, and conditions related to soil and permits. It allows for changes to the scope of work through written Change Orders, ensuring both parties are informed of any adjustments. The contract stipulates payment terms, including a cost-plus fee structure and provisions for late payment. Importantly, it emphasizes the contractor's limited warranty on workmanship. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate or construction law as it provides a clear framework for managing construction projects while protecting their interests. Users can easily fill in their specific project details, ensuring compliance with local regulations and outlining all financial obligations.
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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.
