Construction Cost Contract Plus With Guaranteed Maximum Price In Utah
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The Construction cost contract plus with guaranteed maximum price in Utah is a legal document that outlines the agreement between a contractor and an owner for construction services. It includes the scope of work, site location, and requirements for permits and soil conditions. Key features include provisions for insurance, change orders, and the contractor's fee structure, which can be based on cost plus or a fixed fee. The contract emphasizes the responsibility of the owner regarding soil conditions and permits, along with the contractor's limitations on warranty. Specific filling instructions advise users to enter relevant details such as project specifications and payment terms. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it clarifies legal responsibilities and protects both parties in construction projects. It serves as a reliable framework for managing project costs and expectations, while ensuring compliance with Utah laws.
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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.
Maximum Allowable Construction Area (MACA) “ the combined total of the Maximum Allowable PSO and the Maximum Allowable ISA. Maximum Allowable Unpaved Surface Area (USA) “ portion of the lot that shall remain unpaved and reserved for softscaping/planting.
