Construction Cost Contract Plus With Guaranteed Maximum Price In Tarrant
Category:
State:
Multi-State
County:
Tarrant
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Contract Plus with Guaranteed Maximum Price in Tarrant is a legal document outlining the agreement between a Contractor and an Owner for a construction project. It specifies the scope of work to be performed, including labor and materials for the Project, and mandates that all necessary permits be obtained by the Contractor. The form addresses issues related to soil conditions, insurance obligations, and requirements for changes in the scope of work, reinforcing that modifications can only be executed via written Change Orders. The contract allows for two payment structures: cost plus or fixed fee, providing flexibility for the Owner. Additionally, it includes provisions for late payment, outlining charges and collection costs in case of defaults, and establishes a warranty for workmanship defects. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants engaged in construction law, enabling them to ensure contractual clarity, compliance, and manage financial implications 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.
Maximum Allowable Construction Area (MACA) “ the combined total of the Maximum Allowable PSO and the Maximum Allowable ISA. Maximum Allowable Unpaved Surface Area (USA) “ portion of the lot that shall remain unpaved and reserved for softscaping/planting.
