Cost Plus Contract In Construction In Travis
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If your project has a well-defined scope of work, a lump sum contract is a straightforward solution since contractors should be able to accurately estimate costs. If the project scope is unclear, contractors can bid with time and materials contracts to mitigate risk.
CCDC contracts are ubiquitous in the construction industry. They are used for all manner of different project types and sizes, so much so that familiarity with these documents is almost becoming required to do business in Ontario's construction industry. There are currently around 14 types of CCDC format contracts.
The CCA specifically handles documents affecting the contractor to sub-contractor relationships while the CCDC documents typically handle contractor to owner relationships. Contracts Covered: CCA 1.
Ing to Boundy (2012), typically, a written contract will include: Date of agreement. Names of parties to the agreement. Preliminary clauses. Defined terms. Main contract clauses. Schedules/appendices and signature provisions (para. 5).
