Construction Fee Plus Form For Contractor In Virginia

State:
Multi-State
Control #:
US-00462
Format:
Word; 
Rich Text
Instant download

Description

The Construction Fee Plus Form for Contractor in Virginia serves as a vital document in establishing the contractual agreement between a contractor and an owner for residential construction projects. This form outlines the scope of work, site details, and responsibilities regarding permits, soil conditions, insurance, and warranty. It features two compensation structures: a cost-plus fee and a fixed fee, allowing for flexibility in how contractors are compensated for their services. Fillers should accurately complete specific sections, including project descriptions and payment terms, to reduce misunderstandings. This form is particularly useful for attorneys who require a clear contract framework, partners and owners who oversee projects, and associates, paralegals, and legal assistants involved in drafting or reviewing such agreements. The document also covers procedures for changes in scope, ensuring that any modifications are formally documented through written change orders. Late payment provisions ensure that contractors are protected, promoting timely financial transactions between the parties.
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  • Preview Construction Contract for Home - Fixed Fee or Cost Plus
  • Preview Construction Contract for Home - Fixed Fee or Cost Plus

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FAQ

Do I really need to get a business license in Virginia? Yes! It's true that a lot of self-employed individuals, particularly those who work from home, never get a state or local Virginia business license.

You only need a license in Virginia if you plan to perform certain types of jobs beyond the scope of minor repairs. If your work will become a finished part of the structure (such as replacing flooring in an entire room) and the total for the project exceeds $1,000, you must have a general contractor license.

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.

Any person who undertakes work without (i) any valid Virginia contractor's license or certificate when a license or certificate is required by this chapter or (ii) the proper class of license as defined in § 54.1-1100 for the work undertaken, shall be fined an amount not to exceed $500 per day for each day that such ...

Under Virginia Code Section 54.1-1115, no one may contract for or bid upon the “construction, removal, repair, or improvements to or upon real property owned, controlled or leased by another person” without a license or the correct type of license.

Virginia doesn't license individuals, only businesses. That means you must start a general contracting business to obtain a general contractor license in this state.

In the area of law, for a contract to be legally enforceable, several requirements must be met, including an offer; acceptance of that offer; mutual understanding of the agreement; capacity to agree; an item or service; consideration in exchange for the item or service; and legality of the contract itself, including ...

A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors.

A general contractor license is mandatory if your business offers construction-related services in Virginia. However, the type of license you'll need depends on the size and type of projects your business will perform.

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Construction Fee Plus Form For Contractor In Virginia