Construction Cost Plus With Example In Wake
Category:
State:
Multi-State
County:
Wake
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Construction Contract outlines an agreement between a contractor and an owner for the construction of a project, specifically detailing a cost-plus pricing structure. In Wake, this type of contract allows the owner to pay the contractor for the actual costs of materials plus an additional fee for services, which provides flexibility and transparency in pricing. Key features of the form include the scope of work, work site specifications, permit responsibilities, soil conditions, insurance requirements, survey and title prerequisites, and procedures for changes to the scope of work. The form also establishes terms for late payments and warranties. Filling out this contract involves specifying the project details, costs, and payment structure. For legal professionals like attorneys, partners, and associates, this contract aids in the clarity of legal responsibilities, ensuring compliance with local regulations. Paralegals and legal assistants can utilize it to facilitate project management through its clear provisions, while owners benefit from understanding their financial obligations and rights concerning project modifications.
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FAQ
Historical Data Benchmarks The process typically includes the following steps: Analyzing Past Project Data: Estimators gather data from completed projects of similar scope, size, and complexity. This data may include material costs, labor hours, equipment expenses, subcontractor rates, and overall project durations.
