Construction Cost Contract Plus With Guaranteed Maximum Price In Travis
Category:
State:
Multi-State
County:
Travis
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Cost Contract Plus with Guaranteed Maximum Price in Travis is a legal document that outlines the responsibilities and agreements between a contractor and the owner for a construction project. This contract specifies the scope of work, work site, required permits, and conditions regarding soil and insurance. A key feature is the pricing structure, which can be either cost plus or fixed fee, allowing flexibility based on the project's nature. Owners are encouraged to communicate any changes in the project scope through written change orders, which may affect the overall cost. The contractor's warranty is limited to one year for workmanship defects, and an assignment of material warranties is provided. This contract is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it ensures clarity in obligations, protects against liabilities, and facilitates organized project management.
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FAQ
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.
