Contract Cost Plus Agreement With Example In Virginia
Instant download
Description
The Contract Cost Plus Agreement is a legal document utilized in Virginia for construction projects, allowing the Owner to pay the Contractor for the actual costs incurred for materials along with an additional fee for their services. This form includes key sections covering the scope of work, work site details, permit responsibilities, and insurance requirements, ensuring both parties understand their obligations. Notably, the form allows for changes to the scope of work via a 'Change Order,' with the Owner responsible for any cost increases associated with these changes. Furthermore, it stipulates payment terms, including provisions for late payments and a warranty period for workmanship defects. This contract is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants involved in construction law. They can leverage this agreement to ensure clarity and adherence to legal standards, helping to prevent disputes and streamline project management. Users are encouraged to fill out the document carefully, specifying all conditions, costs, and required details to maintain compliance with Virginia law.
Free preview
Form popularity
FAQ
Ing to Boundy (2012), typically, a written contract will include: Date of agreement. Names of parties to the agreement. Preliminary clauses. Defined terms. Main contract clauses. Schedules/appendices and signature provisions (para. 5).
Protect Yourself when Working with Custom Home Builders Only work with a licensed contractor. Get the contract in writing. Avoid “lump sum” bids. Talk to several contractors. Tie payments to deliverables. Get proof of payment to suppliers.
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.
