Construction Contract Cost Plus With Example In Salt Lake

• Category: Construction - Contractors
• State: Multi-State
• County: Salt Lake
• Control #: US-00462
• Format: Word; Rich Text

Description

The Construction Contract, specifically the Cost Plus version, is designed to outline agreements between the Contractor and Owner, detailing the scope of work, location, permits, soil conditions, insurance, and payment structure. In this contract, the Owner agrees to compensate the Contractor for the actual costs incurred for materials, plus an additional fee, making it a flexible contractual arrangement ideal for projects where costs may vary. For example, a construction project in Salt Lake could include unique site considerations that affect pricing, thus using a Cost Plus contract allows for adjustments as necessary. Key features of this form include clear definitions of responsibilities, provisions for changes in the scope of work through written Change Orders, and specifications related to late payments and warranties. Filling out the form involves specifying the project's details, costs, and payment structure, while editing requires ensuring that any changes comply with the outlined procedures. This contract is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects, as it provides a structured framework that protects all parties' interests while adapting to project needs.