Contract Cost Plus Form With Cost In Virginia
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Description
The Contract Cost Plus Form with Cost in Virginia is a legal document used to outline the terms and conditions under which a contractor provides construction services to an owner. This form includes sections detailing the scope of work, work site, permits, soil conditions, insurance requirements, and provisions for changes to the project’s scope. Key features of this form emphasize that the owner agrees to compensate the contractor for the actual costs incurred for materials plus a set fee, known as cost plus. It provides clear instructions for both filling out and changing the project scope through written 'Change Orders.' This form is particularly beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants as it ensures clarity in contractual obligations, facilitates the management of project costs, and helps mitigate disputes related to construction projects. By following the structured guidance, users can effectively address potential issues such as late payments, warranty claims, and insurance obligations.
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FAQ
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.
