Cost Plus Contract With Example In Utah
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Description
The Cost Plus Contract in Utah is a construction agreement where the owner pays the contractor for the actual costs incurred for materials and labor, plus an additional fee. This structure is beneficial in situations where project costs may fluctuate, providing transparency and flexibility. Key features include a detailed scope of work, clearly defined work site, and the responsibility for obtaining necessary permits. Owners are empowered to request changes to the project, which must be documented in a written change order, ensuring mutual agreement. A section on late payments outlines penalties for overdue payments. The contract also includes warranty provisions for workmanship defects noticed within a year. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants facilitating construction projects, as it provides a clear framework that outlines responsibilities and expectations. Its straightforward language and structured sections make it accessible for users with varying levels of legal experience.
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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.
