Construction Cost Plus With Example In Travis
Category:
State:
Multi-State
County:
Travis
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract details the framework for a construction project where the owner and contractor agree on various terms and conditions. This contract outlines the scope of work, specifying labor and materials required for the project, along with site details and responsibilities regarding permits and soil conditions. One key feature is the cost structure—under the 'Construction cost plus' method, the owner agrees to compensate the contractor for actual material costs plus a set fee, providing flexibility based on actual expenses. For example, in Travis, this may include variations depending on unforeseen site conditions. The contractor is also responsible for obtaining necessary permits and maintaining insurance coverage. Furthermore, changes to the work scope can occur through written change orders, allowing for adjustments in project costs. The contract emphasizes accountability for late payments, penalties, and warranties, thus protecting both parties involved. This form serves as a vital document for attorneys, owners, associates, and paralegals by clarifying responsibilities and financial obligations within construction projects, ensuring smoother transactions and legal protections throughout the project's duration.
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Construction Contractors: 10 Ways to Increase Your Company's Valuation Before Selling Avoid customer concentration. Collect Retainage and manage Accounts Receivable. Maintain a solid management team. Demonstrate your project history. Maintain a list of contracts. Maintain a list of bids. Save project estimate data.
