Cost Plus Construction Contract Example In Wake

• Category: Construction - Contractors
• State: Multi-State
• County: Wake
• Control #: US-00462
• Format: Word; Rich Text

Description

The Cost Plus Construction Contract example in Wake is a detailed agreement between a Contractor and an Owner, outlining all terms and conditions for the construction of a specified project. This form stipulates the scope of work, location, necessary permits, and responsibilities regarding soil conditions, insurance, and title survey. Importantly, it allows for changes to the scope of work via written Change Orders, with the Owner responsible for any additional costs arising from these changes. The contract utilizes a cost plus fee structure, where the Owner agrees to pay for actual material costs plus a predetermined fee. It includes provisions for late payment penalties and a limited warranty period for workmanship defects. This form is particularly beneficial for Attorneys, Partners, and Owners, as it establishes clear responsibilities and liabilities, thereby minimizing potential disputes. Paralegals and Legal Assistants can utilize this document for drafting or reviewing contracts, ensuring compliance with local laws, while Associates may find it useful for understanding construction law. Overall, this contract serves to protect the interests of all parties involved while providing a structured framework for project execution.