Cost Plus Construction Contract With Gmp In Riverside
Category:
State:
Multi-State
County:
Riverside
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Construction Contract with GMP in Riverside is a vital legal document designed for homeowners and contractors engaging in residential construction projects. This contract outlines the scope of work, specifying that the contractor is responsible for providing all necessary labor and materials. It includes clear instructions on the work site, permitting obligations, and the management of soil conditions, emphasizing that the contractor will not be liable for unforeseen soil issues. Key features of this contract involve the detailed cost structure, allowing for either cost-plus fees or fixed fees, which provides transparency regarding financial obligations. The form also includes provisions for changes in project scope through written change orders, ensuring that both parties are informed and in agreement on additional costs. Furthermore, payment terms, including late charges for overdue payments, are explicitly stated to protect the contractor's financial interests. The utility of this form extends to various legal professionals, such as attorneys, paralegals, and legal assistants, who will find it instrumental in drafting and managing contracts to ensure compliance with local laws. Owners and partners benefit from clear guidelines on their rights and responsibilities, facilitating smoother project execution.
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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.
