Cost Plus Construction Contract With Guaranteed Maximum Price In Sacramento
Category:
State:
Multi-State
County:
Sacramento
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Construction Contract with Guaranteed Maximum Price in Sacramento is a crucial document tailored for professionals engaging in construction projects. This form establishes an agreement between the contractor and the owner, specifying the project scope, work site, and financial arrangements. Key features include the contractor's responsibility for obtaining necessary permits, addressing soil conditions, and detailing insurance requirements. Users are guided to include change orders in writing, ensuring clarity on any additional costs incurred by modifications. The contract outlines a cost-plus structure, where the owner pays the actual costs plus a predetermined fee, emphasizing transparency in financial arrangements. Furthermore, it includes provisions for late payment penalties and warranties that protect the owner against defects in workmanship for a specified period. This form is essential for attorneys, partners, owners, associates, paralegals, and legal assistants who seek to facilitate clear and legally binding agreements in residential construction.
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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.
