Cost Plus Contract In Project Management In Salt Lake

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

Description

The Cost Plus Contract in project management in Salt Lake outlines the agreement between a contractor and an owner for the construction of a residence. This contract specifies that the owner will reimburse the contractor for actual costs incurred for materials as well as a predetermined fee for services. Key features of the form include detailed descriptions of the scope of work, work site, permit requirements, and stipulations regarding soil conditions. It provides clear instructions for filling out sections such as the contractor's fee, which can be either cost plus or fixed fee. Additionally, the document addresses change orders, late payment penalties, and contractor warranties. This form is useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects, as it outlines the financial responsibility and obligations of each party while ensuring compliance with local regulations. Completing this form accurately helps in managing project costs and mitigating disputes.