Cost Plus Construction Contract With Example In Texas
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Description
The Cost Plus Construction Contract is a critical document used in Texas for construction projects where the owner agrees to pay the contractor for actual costs incurred plus a specified fee. This type of contract is beneficial for projects with uncertain costs, allowing flexibility and transparency in billing. Key features include a detailed scope of work, site specifications, permit requirements, and provisions for changes in scope via written change orders. The contractor's fee is calculated based on actual material costs plus a set amount, which must be clearly outlined in the contract. This contract also encompasses insurance responsibilities, warranty limitations, and consequences for late payments. Attorneys, partners, owners, associates, paralegals, and legal assistants will find this form essential for ensuring compliance with Texas construction laws, facilitating clear communication between parties, and protecting their interests. It is vital for professionals to fill in specific project details accurately and review provisions carefully to avoid disputes.
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