Cost Plus Contract Meaning With Example In San Antonio
Category:
State:
Multi-State
City:
San Antonio
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
A Cost Plus Contract is a type of construction agreement where the Owner pays the Contractor for the actual costs incurred to complete the project, plus an additional fee. For example, in San Antonio, if a Contractor spends $100,000 on materials and labor, and the agreed fee is $10,000, the Owner would owe $110,000 in total. Key features of such contracts include a clear definition of the scope of work, the requirement for written change orders, and stipulations regarding permits and insurance. When filling out the form, it is crucial for users to specify the actual costs and the additional fee caps according to their agreements. This contract is especially useful for attorneys, partners, and owners involved in construction projects, as it allows flexibility in managing costs while ensuring that all necessary expenses are covered. Paralegals and legal assistants can assist in documenting modifications and advising on compliance, enhancing project management efficiency for all involved.
Free preview
Form popularity
FAQ
It's surprisingly easy to safeguard yourself so you you can get on with your project with confidence. Find out how long the company has been in business. Check references. Really. Negotiate payment terms. Protect Yourself. Understand the scope of work before you sign a contract.
