Cost Plus Construction Contract With Gmp In Tarrant
Category:
State:
Multi-State
County:
Tarrant
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Cost Plus Construction Contract with GMP in Tarrant outlines an agreement between a contractor and an owner, detailing the compensation structure based on actual costs incurred plus a fixed fee. Key features include a defined scope of work, requirements for obtaining necessary permits, and provisions for handling soil conditions and insurance. The contract allows for modifications via written Change Orders, ensuring clarity in cost adjustments. Additionally, it addresses late payment penalties and warranties for workmanship. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction projects, offering a structured approach to managing costs and responsibilities. By specifying the payment terms and conditions of work, it serves as a protective measure against disputes and ensures that all parties have clear expectations throughout the construction process.
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FAQ
Disadvantages of GMP contracts Potential for disputes: While shared savings can be an advantage, it can also lead to disagreements over project management decisions, especially if there's a perception that savings are being prioritized over quality.
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.
Series A O/C Agreements. B O/A Agreements. C Other Agreements. D Miscellaneous. E Exhibits. F Facility Management. G Forms.
