Construction Contract Cost Plus With Guaranteed Maximum Price In Santa Clara
Category:
State:
Multi-State
County:
Santa Clara
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract Cost Plus With Guaranteed Maximum Price in Santa Clara is a binding agreement between a contractor and owner for the construction of a residential project. This contract, which includes detailed specifications for work to be performed, outlines key features such as the scope of work, work site, permits required, and insurance obligations of the contractor. One notable aspect is the cost-plus fee structure, allowing for the reimbursement of actual costs incurred by the contractor, plus a guaranteed maximum price, ensuring that owners are protected from unforeseen cost overruns. Additionally, the form includes provisions for changes to the scope of work, late payment penalties, and warranty coverage. This contract is particularly useful for attorneys, owners, and legal assistants who need a clear understanding of project costs, responsibilities, and risks involved. Paralegals and associates will benefit from the form's straightforward layout for filling out and modifications. Overall, this construction contract serves as a comprehensive tool for managing residential construction projects effectively in Santa Clara.
Free preview
Form popularity
FAQ
Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and “Minimum Contract Value “means 10% of the Maximum Contract Value.
The GMP Budget is the amount the Trustees have budgeted for the construction Contract. The award of a construction contract is contingent upon receiving an actual GMP within the GMP Budget.
In short, a construction risk manager "identifies risks and comes up with methods for avoiding them," write the career experts at Indeed. "They consider the financial, legal, environmental and reputational risks that the organization and employees may face."
