Construction Cost Contract Plus With Example In Virginia
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Description
The Construction Cost Contract Plus is a comprehensive agreement tailored to govern the construction of a project, especially in Virginia. This document delineates key responsibilities of both the Contractor and Owner, establishes the scope of work, and references necessary permits. One significant feature is the provision for changes in the scope of work via written Change Orders, which ensure clarity when adjustments are required during construction. Additionally, it offers options for cost plus or fixed fee payment structures, making it adaptable to various project needs. The Contractor must also maintain insurance and secure the necessary surveys and title opinions before commencing work. This contract is particularly beneficial for parties engaged in construction projects, such as attorneys, partners, owners, associates, paralegals, and legal assistants. It provides them with a clear framework for managing contractual obligations, risks, and financial arrangements throughout the project lifecycle.
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Licensed contractors are required by law to provide a written contract for residential work, signed by both parties. Don't rely on verbal agreements. Get all guarantees, warranties, and promises in writing. Limit your down payment or deposit.
