Contract Cost Plus Form Template With Percentages In Virginia
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Description
The Contract Cost Plus Form Template with Percentages in Virginia is designed for construction agreements where payment is based on the actual costs incurred by the contractor, plus an additional agreed percentage of those costs as profit. This form includes essential sections detailing the scope of work, work site location, responsibilities regarding permits, soil conditions, insurance requirements, and provisions for changes in the scope of work. Keys to using this template include clearly defining the project specifications and outlining payment arrangements, whether through cost plus or fixed fee structures. It is particularly useful for legal professionals such as attorneys, partners, owners, associates, paralegals, and legal assistants engaged in real estate and construction law. Each party is advised to fill in specific details pertaining to their agreement, ensuring all changes are documented via written Change Orders. This helps establish clear expectations and protect the rights of the parties involved, making it a vital tool in construction-related transactions.
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