Cost Plus Contract In Simple Words In San Bernardino

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

Description

The Cost Plus Contract is a construction agreement used in San Bernardino that outlines how the contractor will be compensated for their work. In simple terms, the owner pays the contractor for the actual costs of materials used plus an additional fee for their services. This type of contract provides flexibility for both parties as it allows for changes during the project. The contractor takes responsibility for ensuring necessary permits are obtained and maintaining insurance throughout the construction. It also specifies that the owner must cover any additional costs that may arise due to unforeseen conditions, like poor soil quality. Legal professionals such as attorneys, paralegals, and legal assistants will find this form useful for its clear structure, which can help negotiate terms and manage changes. Owners and partners appreciate this contract format since it outlines clear expectations and protects their interests. Overall, this form is designed to facilitate smooth communication between parties, ensuring all responsibilities and costs are transparent.