Cost Plus Contract In Costing In Utah
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Description
The Cost Plus Contract in costing in Utah serves as a legal agreement between the Contractor and the Owner, detailing the scope of work for a construction project. This form outlines that the Owner will pay the Contractor for the actual cost of materials plus a predetermined fee for labor. Key features include provisions for changes to the scope of work through written Change Orders, the necessity for the Contractor to maintain insurance, and the Owner's responsibility for obtaining necessary permits. This form requires careful filling, including specifying the total fee for the Contractor's services and acknowledging any changes that may incur additional costs. It is particularly useful for attorneys, owners, and paralegals involved in real estate and construction, as it clearly defines responsibilities and payment structures. Associates and legal assistants can benefit from understanding the financial implications of this contract, while partners can utilize it to negotiate and manage construction projects effectively. The form emphasizes the importance of clear communication regarding additional expenses and the implications of soil conditions at the work site.
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