Cost Plus Contract For Contractors In Salt Lake

State:
Multi-State
County:
Salt Lake
Control #:
US-00462
Format:
Word; 
Rich Text
Instant download

Description

The Cost Plus Contract for Contractors in Salt Lake is a detailed construction agreement between a contractor and an owner that outlines the scope of work, payment structure, and responsibilities of each party. Key features include provisions for the contractor to receive reimbursement for actual costs plus an additional fee, ensuring transparency in expenses. The contract specifies the need for the contractor to obtain necessary permits, handle soil conditions, and maintain appropriate insurance coverage. Owners can request changes to the project through written change orders, which may affect the overall cost, emphasizing a flexible yet structured approach to alterations. This form is particularly useful for attorneys, partners, and owners, as it provides a clear framework for mitigating risks and defining obligations. For associates, paralegals, and legal assistants, understanding this contract aids in drafting and reviewing legal documents, ensuring compliance with local regulations. The plain language and straightforward instructions make this contract accessible to users with limited legal experience, fostering an environment of trust and clarity in contractual relationships.
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  • Preview Construction Contract for Home - Fixed Fee or Cost Plus
  • Preview Construction Contract for Home - Fixed Fee or Cost Plus

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FAQ

If your project has a well-defined scope of work, a lump sum contract is a straightforward solution since contractors should be able to accurately estimate costs. If the project scope is unclear, contractors can bid with time and materials contracts to mitigate risk.

Ing to Boundy (2012), typically, a written contract will include: Date of agreement. Names of parties to the agreement. Preliminary clauses. Defined terms. Main contract clauses. Schedules/appendices and signature provisions (para. 5).

Planning to do construction work in Utah? You'll need to get a contractor's license. In addition to protecting your business, a Utah general contractor's license can boost your profit potential by helping you land bigger jobs. Without a license, you're limited to projects valued at less than $3,000.

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Cost Plus Contract For Contractors In Salt Lake