Cost Plus Contract For Contractors In Santa Clara
Category:
State:
Multi-State
County:
Santa Clara
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Contract for Contractors in Santa Clara is a legal document that outlines the agreement between a contractor and an owner for construction services. This form is particularly useful for those involved in construction projects, as it specifies the scope of work, work site, and the responsibilities of each party. Key features of the contract include the contractor's obligation to obtain necessary permits, the owner’s responsibility for soil conditions, and detailed terms concerning insurance coverage. Additionally, the contract allows for changes to the scope of work through written change orders, ensuring clarity in cost management. The compensation structure can be tailored as either cost plus or fixed fee, giving flexibility based on project needs. Filling instructions emphasize the importance of accurately documenting the project details and payment terms. Target users, including attorneys, partners, owners, associates, paralegals, and legal assistants, will find this contract valuable in managing construction projects legally and efficiently, as it helps mitigate risks and establishes a clear framework for responsibilities and compensation.
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FAQ
Final payments from the owner to the prime contractor become due within 45 days after the completion of the entire project. Upon receipt of payment from the owner, the prime contractor needs to make payment to their subs and suppliers within 10 days. The same deadline applies to all other payments down the chain.
Initial Payment: $1,000 or 10% (whichever is less) Demo and Prep Work Completion: 20%
