Cost Plus Construction Contract Example In Utah
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The Cost Plus Construction Contract example in Utah outlines the agreement between a Contractor and an Owner for construction services. Key features include the scope of work, detailing the construction responsibilities and specifications that the Contractor must follow. The form specifies that the project will occur at a designated work site and addresses the need for permits and regulatory approvals, with associated costs borne by the project. A significant feature is the clause regarding soil conditions, stating the Contractor’s limited responsibility for such factors. Insurance requirements ensure that the Contractor maintains adequate coverage against potential risks. The contract allows the Owner to make changes to the work scope through written 'Change Orders,' with costs agreed upon beforehand. The payment section highlights a Cost Plus model, where the Owner compensates the Contractor for the actual costs incurred plus an agreed fee. Finally, provisions for late payment penalties and warranty limits are included to protect both parties. This contract is particularly useful for Attorneys, Partners, Owners, Associates, Paralegals, and Legal Assistants involved in real estate or construction law, as it provides a clear, structured method for managing construction agreements in Utah.
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Protect Yourself when Working with Custom Home Builders Only work with a licensed contractor. Get the contract in writing. Avoid “lump sum” bids. Talk to several contractors. Tie payments to deliverables. Get proof of payment to suppliers.
How To Write A Construction Contract With 7 Steps Step 1: Define the Parties Involved. Step 2: Outline the Scope of Work. Step 3: Establish the Timeline. Step 4: Determine the Payment Terms. Step 5: Include Necessary Legal Clauses. Step 6: Address Change Orders and Modifications. Step 7: Sign and Execute the Contract.
