Construction Cost Contract Plus With Gmp In Texas
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Description
The Construction Cost Contract Plus With GMP in Texas outlines the agreement between the contractor and the owner for the construction of a project, detailing the scope of work, work site, and necessary permits. Key features include provisions for changes to the scope of work through written Change Orders, the contractor's fee structure based on either cost plus or fixed fee agreements, and conditions regarding late payments and warranties. This form is designed for various legal professionals, such as attorneys who need to draft or review contracts, and paralegals or legal assistants who may assist in the preparation or modification of these documents. Owners benefit from clear guidelines on project expectations and cost management, while contractors have a framework for operational responsibilities and protections. It's essential for all parties to understand the implications of soil conditions, insurance requirements, and the process for implementing changes during construction. This contract serves as a comprehensive tool to mitigate conflicts and ensure clarity in contractual obligations.
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