Cost Plus Contract For Construction In Utah
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Description
The Cost Plus Contract for Construction in Utah is a legally binding agreement between a contractor and an owner, detailing the scope of work, payment structure, and responsibilities of both parties. This contract stipulates that the owner will pay for the actual costs associated with construction, along with an additional agreed-upon fee for the contractor's services. It includes provisions regarding site conditions, insurance obligations, and the process for making changes to the scope of work through written change orders. The contractor is responsible for obtaining necessary permits and maintaining required insurance coverage. Notably, the contract limits the contractor's warranty to defects in workmanship for one year and outlines the consequences for late payments. This form is especially useful for attorneys, owners, and contractors who need a clear framework for cost management and responsibilities, facilitating effective communication and reducing disputes during construction projects.
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FAQ
Can I be my own Contractor? Pursuant to Utah State Code 55-55-305 a property owner is exempt from licensure and may engage in acts or practices included within the practice of construction trades subject to the stated circumstances and limitations within the Code.
