Contract Cost Plus Agreement With Gmp In Suffolk
Category:
State:
Multi-State
County:
Suffolk
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Contract Cost Plus Agreement with GMP in Suffolk serves as a formal agreement between a contractor and an owner for a construction project. This contract outlines the scope of work, specifying materials and labor required for project completion, and establishes the work site location. Key features include clauses on obtaining necessary permits, provisions regarding soil conditions, and insurance responsibilities of the contractor. The agreement allows for changes initiated by the owner through written 'Change Orders', which may affect project costs. Payment structures include either a cost-plus model or a fixed fee, specifying the actual costs plus an agreed-upon fee or a set amount. It also addresses late payments, stipulating a late charge and collection costs, alongside a warranty limited to one year for workmanship defects. This contract is highly useful for attorneys, partners, owners, associates, paralegals, and legal assistants, providing a clear and structured approach to construction agreements. It assists legal professionals in ensuring compliance with local regulations while protecting both parties' interests in a construction project.
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FAQ
Protect Yourself when Working with Custom Home Builders Only work with a licensed contractor. Get the contract in writing. Avoid “lump sum” bids. Talk to several contractors. Tie payments to deliverables. Get proof of payment to suppliers.
