Construction Cost Contract Plus With Gmp In Salt Lake
Category:
State:
Multi-State
County:
Salt Lake
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Contract Plus with GMP in Salt Lake is a legally binding agreement that outlines the responsibilities and obligations between a contractor and an owner for a construction project. This contract specifies the scope of work, including all labor and materials required to complete the project according to the provided plans and specifications. It also addresses important elements such as the work site, permit acquisition, soil conditions, insurance requirements, and changes to the scope of work. One noteworthy aspect is the contractor's fee structure, allowing for both cost-plus and fixed fee arrangements, thereby offering flexibility for how contractors are compensated. The form also includes provisions for warranties on workmanship and materials. This document is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction agreements, as it provides a clear framework for contract negotiation and execution. By utilizing this contract, users can ensure compliance with local regulations and protect their interests throughout the construction process.
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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.
