Cost Plus Contract In Simple Words In Salt Lake
Category:
State:
Multi-State
County:
Salt Lake
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
A Cost Plus Contract is a construction agreement where the owner agrees to pay the contractor for the actual costs of materials and labor, plus an additional fee for their services. This type of contract is useful in Salt Lake for projects where costs may vary, allowing flexibility in budgeting. Key features include specifying the scope of work, detailing the work site, and outlining the responsibilities for obtaining permits. The owner can also request changes during construction, which will adjust costs accordingly. It's important for the contractor to maintain necessary insurance and the owner to provide a boundary survey before work begins. To fill out the form, users should complete sections detailing the project specifics, including materials and fee structures. This contract is particularly relevant for attorneys, partners, and legal assistants involved in construction projects who need to ensure proper documentation and compliance with local laws. Paralegals and associates can assist in managing contract amendments and confirming that all necessary permits are obtained.
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FAQ
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).
