Construction Cost Plus With Cost-plus Pricing In Virginia
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Description
The Construction Contract for cost-plus pricing in Virginia outlines the mutual agreement between the Contractor and Owner for the construction of a specified project. This form specifies essential aspects such as the scope of work, work site, required permits, soil conditions, insurance obligations, and procedures for changes in the scope of work. A notable feature of this form is the cost-plus pricing structure, which allows the Owner to pay for actual project costs plus a predetermined fee for the Contractor's services. This approach is particularly beneficial in situations where project costs may vary. The form includes clear filling and editing instructions, detailing how to specify the project's scope, payment terms, and change orders. Key use cases include construction projects where flexibility in costs is necessary, making it suitable for Attorneys, Partners, Owners, Associates, Paralegals, and Legal Assistants involved in managing contracts. They can leverage this form to establish clear expectations and responsibilities between parties, ensuring compliance with local regulations while protecting their interests.
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