Construction Contract Cost Plus With Gmp In Suffolk
Category:
State:
Multi-State
County:
Suffolk
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract Cost Plus With GMP in Suffolk is a legal agreement between a contractor and an owner for construction projects, detailed in specific terms and conditions. The contract outlines the scope of work, including the plans and specifications for the project, and the general location of the work site. It stipulates that the contractor will bear the responsibility for obtaining necessary permits, and clarifies that any issues related to soil conditions are the owner’s responsibility. Key features of the form include a provision for insurance coverage, guidelines for making changes to the scope of work by written change orders, and a clear explanation of the contractor's fee structure, which may be based on actual costs plus a specified sum. The contract warns of late payment charges and limits the contractor's warranty to defects in workmanship for one year. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects, providing a structured framework for managing project costs and responsibilities effectively.
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FAQ
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.
