What is the maximum contract value?

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.

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Construction Contractor Forms
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Construction Contract for Home - Fixed Fee or Cost Plus

Cost Plus Construction Contract With Guaranteed Maximum Price In Suffolk

Q: What is the maximum contract value?

Maximum Contract Value means the amount specified in the &quot;Limitation of Expenditure&quot; clause set out in the Contract; and Minimum Contract Value means 10% of the Maximum Contract Value.

Category:

Construction - Contractors

State:

Multi-State

County:

Suffolk

Control #:

US-00462

Format:

Instant download

Description

The Cost Plus Construction Contract with Guaranteed Maximum Price in Suffolk is a legal agreement designed to outline the responsibilities and expectations between a contractor and an owner for a construction project. This contract emphasizes cost-plus pricing, where the owner agrees to pay the actual costs of materials and labor, alongside a fixed fee for the contractor's services. Key features include a detailed scope of work, specifications for the project site, and provisions for obtaining necessary permits. Additionally, the form includes a process for handling changes to the project scope through written change orders, ensuring clarity in potential cost adjustments. Users are instructed to provide specific financial details related to payments and the procedures for late payments. This contract is particularly useful for a range of legal professionals, including attorneys, partners, owners, associates, paralegals, and legal assistants, as it provides a clear framework for managing construction agreements while safeguarding the interests of both parties involved.

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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.

Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.

Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.

If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.

We protect your documents and personal data by following strict security and privacy standards.

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FAQ

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.

Definition. Limits of contracts refer to a number of exceptions in contract law to the rule that courts should fully enforce voluntary agreements between capable parties.

To calculate TCV, multiply the monthly recurring revenue (MRR) with the length of the contract terms, then add any other one-time fees included in the contract. Total Contract Value = Monthly Recurring Revenue (MRR) x Contract Term Length + Any One-time Fees.