Home Fee Cost Plus Contract With Guaranteed Maximum In Salt Lake

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

Description

The Home fee cost plus contract with guaranteed maximum in Salt Lake is a detailed agreement between a contractor and an owner for residential construction projects. This form outlines the scope of work, the project's location, and specific responsibilities regarding permits and soil conditions. Key features include provisions for changes to the scope of work through written change orders, detailed descriptions of payment structures, and a warranty clause limiting the contractor's liability for workmanship defects. The form is designed for use in Salt Lake, ensuring compliance with local regulations. It is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in real estate transactions, construction law, or property development. The included payment terms can be tailored to either a cost-plus model or a fixed fee structure, addressing the unique financial preferences of the owner. Additionally, it emphasizes the importance of obtaining the necessary surveys and approvals prior to construction, ensuring that all parties are protected and informed throughout the project.
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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

Disadvantages of GMP contracts Potential for disputes: While shared savings can be an advantage, it can also lead to disagreements over project management decisions, especially if there's a perception that savings are being prioritized over quality.

AS 4000 is a standard form contract which is widely used in the construction industry. The risk allocation between the parties in the contract is therefore well understood. The current revision of AS 4000 has been conducted by a committee of industry representatives and experts.

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Home Fee Cost Plus Contract With Guaranteed Maximum In Salt Lake