Contract Cost Plus Form With Gmp In Travis
Category:
State:
Multi-State
County:
Travis
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Contract Cost Plus Form with GMP in Travis is a specialized document used for construction projects, outlining the financial agreements between a contractor and an owner. This form establishes a cost-plus payment structure that includes a Guaranteed Maximum Price (GMP), ensuring that the owner is protected from cost overruns beyond a predetermined amount. Key features of the form include defined scope of work, insurance requirements, and provisions for change orders, allowing flexibility during construction while maintaining accountability. Users should complete sections related to the project specifics, contractor fees, and payment schedules clearly and accurately. It is essential for the contractor to obtain necessary permits and address soil conditions before starting construction. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it fosters clear communication and outlines responsibilities, thus minimizing disputes. Being straightforward and easy to edit, it serves as a reliable tool for managing construction contracts effectively.
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FAQ
Unlike stipulated sum contracts, which hold contractors responsible for completing projects at fixed prices regardless of actual costs incurred, GMP contracts transfer this risk to the contractor by setting a limit on how much the customer will be charged.
Series A O/C Agreements. B O/A Agreements. C Other Agreements. D Miscellaneous. E Exhibits. F Facility Management. G Forms.
