Sample Of Cost Plus Contract For Construction In Texas
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Description
The Sample of Cost Plus Contract for Construction in Texas is a formal agreement between a contractor and an owner that outlines the responsibilities and expectations for constructing a residential project. Key features of this document include the definition of the scope of work, the work site details, and the responsibilities for obtaining necessary permits. It specifies that the contractor is not liable for soil conditions at the work site and sets clear insurance requirements for liability and risk management. The contract includes provisions for making changes to the project scope through written change orders, with an acknowledgment of potential cost increases. The contractor's fee can be structured as a cost-plus arrangement, allowing payment for actual expenses plus an additional fee, or as a fixed fee. It also stipulates penalties for late payments and warranty limitations for workmanship. This contract is especially useful for attorneys, partners, owners, associates, paralegals, and legal assistants engaged in construction or real estate law, facilitating clear communication and legal compliance in construction projects.
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