Cost Plus Fee Contract Example In Virginia
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Description
The Cost Plus Fee Contract example in Virginia is a legal document that outlines the terms of construction services provided by a contractor to an owner. Key features include a detailed scope of work, the work site location, and responsibility for obtaining necessary permits. The contract specifies that the owner will pay the contractor for actual costs of materials plus an agreed fee, ensuring transparency in pricing. Filling instructions recommend accurate completion of all relevant sections and maintaining clear records of any changes made through written change orders. The contract also includes provisions for late payments and warranties for workmanship defects, providing protection for both parties. This form is particularly useful for attorneys, partners, and owners engaged in construction projects, as it clarifies financial responsibilities and project expectations. Additionally, associates, paralegals, and legal assistants can benefit from using this template to streamline contract preparation and ensure compliance with Virginia regulations.
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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.
