Construction Cost Contract Plus With Guaranteed Maximum Price In Suffolk
Category:
State:
Multi-State
County:
Suffolk
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Contract Plus With Guaranteed Maximum Price in Suffolk is designed to provide a detailed framework for construction projects, ensuring clarity in the scope of work, payment structure, and responsibilities of both the contractor and owner. This contract outlines the necessary terms including the scope of the project, work site specifications, permit responsibilities, and provisions related to soil conditions. It emphasizes the importance of changes to the scope of work and establishes protocols for any modifications via written change orders. The contractor's fee can be structured as cost plus or fixed fee, with provisions for late payments and warranties. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants who need a comprehensive, professional agreement that facilitates transparent communication and establishes clear expectations for a construction project. By using this contract, parties can reduce disputes and ensure adherence to local regulations and standards.
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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.
