Contract Cost Plus Agreement With Us In Wake
Category:
State:
Multi-State
County:
Wake
Control #:
US-00462
Format:
Word;
Rich Text
Instant download
Description
The Contract Cost Plus Agreement with us in Wake is a binding document that outlines the responsibilities and obligations between the Contractor and the Owner for a construction project. Key features include a detailed scope of work, work site identification, insurance requirements, and conditions regarding soil at the work site. The form allows for changes in the scope of work through written Change Orders, with additional costs borne by the Owner. The cost structure can be based on actual materials plus a fixed fee or a fixed fee alone. It emphasizes the need for timely payments and includes clauses for late payment penalties and warranty limitations. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it provides a clear framework for ensuring compliance with construction laws and a transparent payment structure. Additionally, it aids in mitigating disputes relating to project costs and project scope.
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FAQ
FAR 16.306. It provides for two types of CPFF contracts: the Completion type, which has a “definite goal or target and specifies an end product,” and the Term type, which “obligates the contractor to devote a specified level of effort for a stated time period.”
