Cost Plus In Construction In Texas
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Description
The Construction Contract outlines the agreement between a Contractor and an Owner for a construction project under Texas law. A critical feature of this contract is the 'Cost Plus' payment structure, whereby the Owner pays the Contractor for actual material costs plus an additional fee for services rendered. This approach is beneficial for projects where costs can fluctuate, as it allows for transparency in expenses. The form includes sections for specifying the scope of work, work site, necessary permits, and insurance requirements. It also mandates a boundary survey and title opinion from the Owner before construction begins. Key use cases for this form involve contractors seeking flexibility in billing and Owners who prefer a detailed account of expenses. It serves as a vital tool for Attorneys, Partners, Owners, Associates, Paralegals, and Legal Assistants in documenting legal obligations and ensuring compliance with local construction laws in Texas. The clarity of the form aids in minimal disputes over cost calculations, making it ideal for various construction scenarios.
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