Construction Cost Contract 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 Cost Contract Plus with Guaranteed Maximum Price in Santa Clara is a formal agreement between the Contractor and Owner for a construction project. It outlines the scope of work, work site details, permits, soil conditions, insurance requirements, and procedures for changes to the project. Key features include a cost-plus fee structure or a fixed fee, which specifies how the Contractor will be compensated, along with provisions for late payments and warranty limitations. This form serves as a comprehensive guideline for ensuring that all parties understand their responsibilities and liabilities regarding the project. It is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides clear instructions for modifications and compliance with local regulations. Proper completion and execution of the contract help avoid disputes and ensure a smoother construction process.
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FAQ
Maximum Allowable Construction Area (MACA) “ the combined total of the Maximum Allowable PSO and the Maximum Allowable ISA. Maximum Allowable Unpaved Surface Area (USA) “ portion of the lot that shall remain unpaved and reserved for softscaping/planting.
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.
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.
